Cryptocurrency Q&A
What determines credit score?
What determines credit score?
Thu Jan 09 2025
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I want to understand what factors contribute to my credit score. I'm curious about the specific criteria or components that are evaluated to calculate this score, as it's important for financial decisions like loans and credit cards.
7 answers
Sat Jan 11 2025
It takes into account five main factors to determine your creditworthiness.
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Sat Jan 11 2025
The calculation of a FICO credit score is a comprehensive process.
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Fri Jan 10 2025
The length of your credit history is another important factor, as it gives lenders an idea of your experience with managing credit.
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Fri Jan 10 2025
Lastly, your credit mix, which includes the types of credit accounts you have, is also considered.
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Fri Jan 10 2025
The first factor is your payment history, which reflects your ability to repay debts on time.
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