The Truth about Credit Scores
What makes up your credit score?
Credit scores are comprised of 22 pieces of data collected from the three major credit bureaus: Equifax, Experian, and TransUnion. Each bureau returns an individual score. Typically, the median score, not the average, will be used to determine creditworthiness. Scores can vary as much as 50 points between the bureaus due to variation in data collection dates. The five major categories used to determine credit scores are: payment history (35% of the rating), length of credit history (15%), new credit (10%), types of credit used (10%) and debt (30%). Income is not factored into credit scores.
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