Tag Archives: Credit Score Calculation

How Is My Credit Score Calculated?

How your credit score is calculated is like the secret formula for Coca-Cola — nobody really knows.

However, FICO, a leading software for calculating a person’s credit score, released five categories on what’s most important when figuring that magic number, including a percentage for each category’s effect on your score. Here’s how FICO breaks it down: Continue reading How Is My Credit Score Calculated?