The three credit bureaus - Equifax, Transunion and Experian – use a special type of software that uses the information in your credit report to generate a numerical score. Credit scores are sometimes called “FICO scores” because the first credit score software was produced and distributed by Fair Isaac Corporation—FICO.
Credit scores are calculated using the following information:
35% Payment History
30% Amount Owed
15% Length of Credit History
10% Types of Credit Utilized
10% New Credit Obtained
Showing posts with label Equifax. Show all posts
Showing posts with label Equifax. Show all posts
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