What makes up your Credit Score? -- Monday, June 6 2016
Whats in your FICOฎ Score
FICO Scores are calculated from a lot of different credit data in your credit report. This data can be grouped into five categories as outlined below.
- Payment History (35%)
- Amounts Owed (30%)
- Length of Credit History (15%)
- New Credit (10%)
- Types of Credit Used (10%)
These percentages are based on the importance of the five categories for the general population. For particular groups - for example, people who have not been using credit long - the importance of these categories may be somewhat different.
Account payment information on specific types
of accounts (credit cards, retail accounts,
installment loans, finance company accounts,
Presence of adverse public records (bankruptcy,
judgments, suits, liens, wage attachments, etc.),
collection items, and/or delinquency (past due
Severity of delinquency (how long past due)
Amount past due on delinquent accounts or
Time since (how recent) past due items
(delinquency), adverse public records (if any),
or collection items (if any)
Number of past due items on file
Number of accounts paid as agreed
Amount owing on accounts
Amount owing on specific types of accounts
Lack of a specific type of balance, in some cases
Number of accounts with balances
Proportion of credit lines used (proportion of
balances to total credit limits on certain types
of revolving accounts)
Proportion of installment loan amounts still owing
(proportion of balance to original loan amount on
certain types of installment loans)
Length of Credit History
Time since accounts opened
Time since accounts opened, by specific type of
Time since account activity
Number of recently opened accounts, and proportion
of accounts that are recently opened, by type of
Number of recent credit inquiries
Time since recent account opening(s), by type of
Time since credit inquiry(s)
Re-establishment of positive credit history
following past payment problems
Types of Credit Used
Number of (presence, prevalence, and recent
information on) various types of accounts
(credit cards, retail accounts, installment
loans, mortgage, consumer finance accounts, etc.)
Please note that:
A FICO score takes into consideration all these
categories of information, not just one or two.
No one piece of information or factor alone will
determine your score.
The importance of any factor depends on the overall
information in your credit report.
For some people, a given factor may be more
important than for someone else with a different
credit history. In addition, as the information in
your credit report changes, so does the importance
of any factor in determining your FICO score. Thus,
it's impossible to say exactly how important any
single factor is in determining your score - even
the levels of importance shown here are for the
general population, and will be different for
different credit profiles. What's important is the
mix of information, which varies from person to
person, and for any one person over time.
Your FICO score only looks at information in your
However, lenders look at many things when making a
credit decision including your income, how long you
have worked at your present job and the kind of
credit you are requesting.
Your score considers both positive and negative
information in your credit report.
Late payments will lower your score, but
establishing or re-establishing a good track record
of making payments on time will raise your FICO
DISCOUNT TICKETS AVAILABLE- Kennywood, Splash Lagoon & Waldameer Park and Water World -- Friday, June 3 2016
As a Member Benefit- discount tickets are available for Kennywood, Waldameer Park and Water World and Splash Lagoon.
Use the store name: CASFCU@Splash1
Waldameer Park and Waterworld:
Click "Buy Tickets Online"
Click "Buy Combo Passes/Wally Cards"
Click green "promo Code" button
Enter Discount Code: CORSCHOOLSFCU16
Have a safe and happy summer!
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