What factors do credit bureaus consider when compiling a credit record and calculating a credit score?

Author

MyProperty

Using a complex formula, credit bureaus will compile a record of your personal credit transactions, employment history, and income, they rate your debt repayment performance according to a credit score chart that indicates how well you manage your debt.

Credit bureaus look at the following factors when calculating your credit record:

Your repayment history
How much you owe
The different types of credit you have applied for and how often
How long your accounts have been open
How much of your available credit you’re using
If you have a history of bankruptcy or a judgment against you

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