Credit Score Rating Scale

A credit score is a number arrived at based on a number of financial factors. As detailed in the credit score chart below, payment history, amounts owed, length of credit history, types of credit and new credit all make up a portion of your FICO score. There are three companies (Experian, TransUnion and Equifax) that report this score, all delivering a slightly different number. The scores vary because all three companies maintain financial data separately. It is generally a good idea to monitor your credit score from each company once a year. This gives you the best look at your financial picture and helps you monitor any problems with your report.

Credit Score Rating Scale
35% Payment History	30% Amounts Owed	15% Credit History	10% Credit Types	10% New Credit
Number of accounts paid as agreed	How much owed and type of accounts	Time tracked by credit report	Total number of accounts and types	New accounts and new-to-existing ratio
Negative public records and/or collections	Use of revolving credit lines	Length since accounts opened	Mixture usually gives better score	Recent credit inquiries
Number of zero balance accounts	Longer good history equals better score	Time passed since last activity		Good recent history after past problems
Delinquent accounts	Amount on installment accounts vs. original balance			Time passed since new accounts and inquiries

For the most part, any credit score rating scale you find will break down similiar to this one, though the exact formula that is used may slightly differ.

Of course, there is a lot more that goes into understanding your score than just reading this credit score chart and we recommend you read some of our other articles to gain a better understanding of the entire credit picture.

30yr Fixed Conf
Rate	APR
4.000%	4.176%

5/1 ARM Conf
Rate	APR
3.000%	3.159%
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