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 hanth23
Joined: 22 Jul 2007
Posts: 23
11.06 Dollars($)
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 Posted: Sun Jul 22, 2007 6:05 am Post subject: Credit Score |
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| How is a "Credit Score" computed. |
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sara
Moderator
Joined: 05 Jul 2006
Posts: 1679
Location: New Brunswick, New Jersey
315.07 Dollars($)
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| Posted: Mon Jul 23, 2007 1:02 am Post subject: RE: compute score |
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Hi hanth,
Credit scores are calculated by the credit bureaus. The bureaus go through your credit report and then determine the scores based on how you have been managing your debts all throughout.
The scores are calculated on the basis of methods known as the Scoring models. For instance, the FICO score is determined on the basis of the FICO Scoring model. similarly there are various other scores which are calculated by using diffrent scoring models.
Take Care |
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Niicss
Joined: 03 Oct 2005
Posts: 2620
Location: New Jersey
409.63 Dollars($)
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| Posted: Mon Jul 23, 2007 2:43 pm Post subject: |
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Credit score is computed after taking many factors into consideration such as:
Outstanding Debts
Types of credit in use
What is the average balance on debts?
Payment History
Credit History
Amount of new credit
_________________
Good is the Enemy of Great. |
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miller_st
Joined: 17 Jan 2007
Posts: 917
168.92 Dollars($)
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