Tag Creidt Scoring

Tag Creidt Scoring

Five Factors of Credit Scoring

John Thomas April 23, 2007 Tags:
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Five Factors of Credit Scoring

FICO (Fair Isaac Company) has shared information regarding the credit scoring model and have established that there are five factors of credit scoring which are listed below:

Payment History has a 35% impact. Paying debt on time and in full has a positive impact on your credit score.  Paying items late  or  getting serious payment issues such as judgments, collections, repossessions and charge-offs have a negative impact on your credit score.  The best thing you can do for your credit score is to make your monthly payments on time each month. Keep Reading...