Anatomy of a Credit Score
For better or worse, your credit score tells countless lenders and other companies all about you and your credit-worthiness. When you go to apply for a loan or a credit card, your score is the first thing (and often the most important thing) they look at.If your credit score is less than stellar, you are probably always searching for ways to improve your score. To do so, it is important to understand what makes up your score. So, here is the anatomy of your credit score. These are the factors that are taken into account when your FICO score is calculated:1. Your payment history2. The total amount you owe3. The length of your credit history4. How many new credit cards or other debt instruments you have5. The variety/types of credit you have