what is everything that determines your credit score?

Answer 1

This is your FICO score:

* 35% - punctuality of payment in the past (only includes payments later than 30 days past due)
* 30% - the amount of debt, expressed as the ratio of current revolving debt (credit card balances, etc.) to total available revolving credit (credit limits)
* 15% - length of credit history
* 10% - types of credit used (installment, revolving, consumer finance)
* 10% - recent search for credit and/or amount of credit obtained recently


This is your Vantage score:
* 32% - payment history
* 23% - credit utilization
* 15% - credit balances
* 13% - depth of credit
* 10% - recent credit
* 7% - available credit

Answer 2

In addition to the previous post:
Percentage of available credit (if you have 3 c. cards with a total of $10,000 but only $1,000 in use, you have 90% available). Any time you start getting into the 25% or less category, you score starts going down.

Outstanding liens and/or judgments. These are very damaging to you score. Get them taken care of as soon as possible and request them to be removed (you may have to pay their filing fee to have them removed, but do it!).

# of address changes; the more you move around, the more it could affect your score. Over all, this is pretty minimal to the actual score but some underwriters may not like it personally.

Recent new credit. If you have just taken on several cards and /or personal loans, the underwriters will not like it. It will have a short-term affect on your score until you hit the 6-9 month mark, then it will rely on the payment history of the accounts.

Number of recent hits on your credit report. How many other people are pulling your credit report. This is also a short-term negative. I think most report the number of credit pulls within the last 6 or 9 months. This is another minor scoring hit, but again the underwriter may not like to see 7 hits on your credit report. The feeling is that you may have been turned down several times recently and have now learned what to reveal and what to hide during your loan application. Good or bad, that is what happens.

Answer 3

if you have a credit score, then you have borrowed money, or stiffed a utility company long enough for them to report. just having utilities does not give you a credit report, but missing/not paying them can get you bad ratings

the score is determined by how many loans you have, how old they are, how many payments you've made, how many payments are late, or not made, and wheather or not you've declaired bankrupcy. It can also be lowered by a reported delinquent payment of any kind(like utilitys, court judgements, unpaid fines)

the odds are really not in your favor to have and keep a good credit score, as most things on a credit report are to lower your score. the best way is to pay your bills, all on time. if you have NO credit, then it is difficult to get in the door( but you can find ways) I purchased my first house with no credit score(not BAD credit, i've never had a credit card, vehicle payment, or any other type of loan) the bank agreed to look at my utility, and rent payments for the previous year to determin my credit risk(all on time, in full). so, what I can tell you is, the thing that is even more important than your current credit score is to PAY the mMAaNn

Answer 4

If you have paid on time, if you have paid your debts in full. How much credit line have you been afforded. How long is your credit history.