Have you ever wondered how credit bureaus come up with your credit (FICO) score? Here is the breakdown of how it is calculated:
- Payment History: 35%
- Current Amounts Owed: 30%
- Length of Credit History: 15%
- Inquiries/New Debt: 10%
- Types of Credit: 10%
You can get your credit report for free at annualcreditreport.com.