Credit Score Makeup

Often people wonder about credit score makeup and how it is calculated by credit bureaus. The credit score makeup is your consumer history divided into various factors and together these factors form your credit score.

Your credit score is directly linked with your consumer behavior. The consumer behavior here stands for how you spend, how you manage your credit and debit. How you manage your loan repayment. How much is your credit availability? How long you have been living at one place. Do you own or rent and how has been your track record with lenders and credit card companies. All these information is taken into consideration for Credit Score Makeup

All these parameters become input to mathematical algorithm developed by Fair Isaac corporation popularly called as FICO. The FICO scoring model takes these parameters as input and delivers credit score for individual consumer.

Credit Score Makeup

The biggest chunk of credit score is derived from Payment History:- 35 Percent.
Next comes balance between debit and credit available to you Debit/Credit Balance:- 30 Percent.

Open Credit Lines :-

Another factor which impacts your credit score is recent searches. Recent Searches :- 10 percent
Rest of the factors which are important to credit score are length of credit history, big purchases such as homes or maintaining loan with good terms etc.

All these factors come out of your consumer behavior. The more you are self disciplined in your financial dealings the more you will have higher credit score.

Important credit Links

At Wiki learn about credit score ….. Wiki Credit score
Credit score at creditcard.com …. Credit Cards

Credit Score Websites

1. Free Credit Report

2. CreditReport.com

3. Check Credit Score

4. Experian - Bureau

5. Equifax - Bureau

6. Transunion - Bureau

6. About Credit Score

Identity Theft Complaints

1. FTC - Govt.

2. SSA - Govt.

Credit Reporting Agencies

1. Experian

2. Equifax

3. Transunion