How does the three Credit Bureaus determin credit score?

Question

process?

Answer 1

If you go to http://www.myfico.com you will find lost of info on the FICO scoring system. This site will answer all your questions.

Answer 2

many ways. Each has it's own scoring modules in place. The things that they look at are
Paid as agreed accounts
Delinquent accounts 30 days
Frequency of delinquency 30 days AA 30 days AA every other month
Level of delinquency 30, 60, 90, 120, 150 days down
Charge off status
Collections accounts
Then it also scores you on limit on bank revolving,i.e.
5000 limit owes 4980 bad
5000 limit owes 600 very good

Then any public records
Bankruptcy files
Judgments opened or paid
These are the most common scoring you will see on credit files.
I see them all day long.
I am a mortgage banker

Answer 3

35% payment history
30-35% utilization ratio
10-15% length of credit accounts (aka how long they've been open) and overall length of history
10% Types of credit used
10% inquiries/new credit.