How Your Credit Score is Calculated

Have you ever wondered how credit bureaus come up with your credit (FICO) score?  Here is the breakdown of how it is calculated:

1. Payment History: 35%
2. Current Amounts Owed: 30%
3. Length of Credit History: 15%
4. Inquiries/New Debt: 10%
5. Types of Credit: 10%

You can get your credit report for free at annualcreditreport.com.