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 hanth23
Joined: 22 Jul 2007
Posts: 23
11.06 Dollars($)
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 Posted: Thu Jul 26, 2007 5:16 am Post subject: Credit score |
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| Please advise if anyone knows the mathematical formula used by credit bureaus to compute the credit score. |
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miller_st
Joined: 17 Jan 2007
Posts: 917
168.92 Dollars($)
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| Posted: Thu Jul 26, 2007 12:14 pm Post subject: |
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| Quote: | | Please advise if anyone knows the mathematical formula used by credit bureaus to compute the credit score. |
The formula credit bureaus use for computing credit score is closely guarded and nobody actually knows much about it. Most of the information on the web relating to credit score computation by bureaus is only an assumption and nobody can say for sure that there assumption is correct.
Miller |
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lorren wsj
Guest
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| Posted: Thu Jul 26, 2007 5:58 pm Post subject: |
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The model most commonly used as a basis to compute credit scores was developed by Fair Isaac Corporation (known as FICO score).
Credit score is calculated by giving weightage to various types of information appearing on your report;
Payment History - 35%:
Amounts Owed - 30%:
Length of Credit History - 15%:
New Credit - 10%
Types of Credit Used - 10% |
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Niicss
Joined: 03 Oct 2005
Posts: 2620
Location: New Jersey
409.63 Dollars($)
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