How's your FICO Scores calculated!
The Fair Isaac Company AKA FICO does the calculation!
FICO Scores are calculated from credit data in your credit report, which you can get free annually at: www.annuelcreditreport.com
This data can be grouped into five different categories as outlined below. The percentage is reflecting how important each of the categories is in determining your FICO scores!
First Category: Payment History is 35% of your total credit report scores!
Second Category: Total Amounts Owed to creditors 30%!
Third Category: The Length of your credit report history 15%!
Fourth Category: New credit acquired 10%!
Fifth Category: Type of Credit used 10%!
This is just FYI only!
Thanks
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