Upon What Information Is A Credit Score Based? - CREDIT SCORE
Free Credit Report Directory. Find free credit report providers, learn the importance of checking your free credit report annually
| Credit Fact Center |
| Homepage Bankruptcy Credit Bureaus Credit Cards Credit Fraud Credit Information Credit Rating Credit Repair Credit Report Credit Rights Credit Score Saving Tips |
| Did you recently check your credit score? Receive a FREE credit score when you check your free Credit Report! Check your credit report today, and find out about your credit score. |
| Free Online Credit Report and score |
You receive all this for free - no obligation
 Free Credit Report - easy-to-read with color graphics Free Credit Score - with personalized tip for making your score higher Free Debt & Income Analysis - examines your borrowing power Plus a free 30-day trial of Credit Monitoring Services
|
| Get your Free credit report! Click here |
CREDIT SCORE: Upon what information is a credit score based?
A credit score is based on information found within your credit report that can be categorized in five basic areas. These are listed below in order of importance. Payment History – Does your credit report show frequent late payments, judgements or bankruptcy? Are there derogatory notes such as charge-offs? Have accounts been turned over to collections? Outstanding Debt – How many outstanding balances appear on your credit report? What is the average balance? What is the ratio of total balances to total credit limits on revolving debt (i.e. credit cards)? Credit History – How long have you had your oldest account? Pursuit of new credit – How many inquiries and new accounts does your report show, and how recent are they? How long has it been since the most recent inquiry? Types of credit in use – How many accounts are reported in the different credit card categories such as bank cards, travel and entertainment cards, department store cards, installment loans and so on. When each credit score is generated, the credit bureau also creates a list of the most significant reasons why the score was not better. Those reasons can include: Account payment history is too new to rate Amount owed on accounts is too high Amount owed on revolving accounts is too high Amount past due on accounts Date of last inquiry too recent Delinquency on accounts Lack of recent bank revolving information Lack of recent installment loan information Lack of recent revolving account information Length of credit history is too short Length of revolving credit history is too short No recent bankcard balances. No recent non-mortgage balance information. No recent revolving balances Number of accounts with delinquency Number of bank revolving or other revolving accounts Number of established accounts Proportion of balances to credit limits is too high on revolving accounts Proportion of loan balances to loan amounts is too high Serious delinquency, derogatory public record, or collection Time since delinquency is too recent or unknown Time since derogatory public record or collection is too recent Time since most recent account opened is too short. Too few accounts currently paid as agreed Too few accounts with recent payment information Too few bank revolving accounts Too many accounts opened in last 12 months Too many accounts with balances (consumer finance accounts) Too many bank or national revolving accounts with balances Too many recent inquiries in last 12 months
ADDITIONAL CREDIT SCORE RELATED FACTS
Does Renting Or Leasing A Home Affect A Credit Score In Any Way?Three Credit Scores: Beacon Score, FICO Score, Empirica Score Determining Your Credit HistoryConsumers Do Not Know That Routine Activity Can Lower A Credit ScoreEstablish And Protect Your Credit - Improving Poor CreditWho Calculates Credit Scores?Maintaining Your Credit Rating| Find Credit Facts |
Copyright 2005 - 2008 http://www.AskMrCredit.com. All rights reserved.