I see what is high, medium, and low impact but how are credit scores actually calculated?
There are several factors that contribute to calculating a credit score. In general, the bureau or company considers the following factors when calculating your credit score:
- The number of accounts you have
- The types of accounts
- Your used credit vs. your available credit
- The length of your credit history
- Your payment history
These factors may be weighted differently by each bureau or company so credit scores may vary.
For more information, see the question How is my credit score calculated?
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The credit score provided is based on the VantageScore 3.0 model using data from Experian®. There are various types of credit scores, and lenders may use a different type of credit score to assess your creditworthiness.
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