0
The three primary credit bureaus (TransUnion, Experian, and Equifax) will all produce a slight variation on credit scores because they contain different information. The primary method of credit score calculation is FICO, from the Fair Issac Corporation. However, there are also several proprietary formulas.
Wiki User
∙ 10y ago
Add your answer:
Earn +20 pts
What kind of credit do businesses get?
There are a few different types of credit you can get for your business. You can get vendor credit, which is different store accounts, and gas cards, etc. Then there is bank credit. In order to get bank credit you will need to have a pretty strong business credit score.
What are three different types of credit lines are?
open, revolving and installment
Can a person with a 639 credit score get approved for a credit card?
I would definitely believe so, though there are different types of cards available and different charge limits based on credit score. However, for the most part it requires a 640 credit score (620 in some places) to obtain a home loan, so I don't see why there would be an issue in getting a credit card with a 639.
How can someone have a credit score of 828 when the highest is 779?
There are many different types of formulas used to figure out credit scores. Each formula has a different range. In all of the examples below, a credit score of 828 is possible. FICO Fair Isaac Co. FICO Score* 300-850 Equifax ScorePower Score 300-850 Experian PLUS Score 330-830 Experian Vantage Score 501-990 TransUnion TransRisk Score 400-925
Does it help your credit to have credit cards from department stores?
One of the factors that makes up your credit score is credit diversification. This means having a variety of different types of credit. Four different types you can have is mortgage loans, car loans, credit cards, and department store cards. So having a department store card that reports to the credit bureaus will help your credit.
How many types of credit reports?
There are three different credit reports. Experian, Equifax, TransUnion
What kind of credit do businesses get?
There are a few different types of credit you can get for your business. You can get vendor credit, which is different store accounts, and gas cards, etc. Then there is bank credit. In order to get bank credit you will need to have a pretty strong business credit score.
What are three different types of credit lines are?
open, revolving and installment
Can a person with a 639 credit score get approved for a credit card?
I would definitely believe so, though there are different types of cards available and different charge limits based on credit score. However, for the most part it requires a 640 credit score (620 in some places) to obtain a home loan, so I don't see why there would be an issue in getting a credit card with a 639.
What credit information categories make up the credit score?
The credit score is generally made up of five main categories: payment history, amount owed, length of credit history, new credit, and types of credit accounts. These factors weigh different aspects of your credit behavior to assess your overall creditworthiness.
How do they come up with my credit score?
Payment history is the biggest piece of the pie that makes up your credit score. On the same angle, the amount of money you owe makes up the 2nd largest margain of your credit score. Length of credit history, new credit and types of credit used finalize the score with the other 2 mentioned. Credit scores are generated by plugging the data from your credit report into software that analyzes it and cranks out a number. The three major credit reporting agencies don't necessarily use the same scoring software, so don't be surprised if you discover that the credit scores they generate for you are different.
How can someone have a credit score of 828 when the highest is 779?
There are many different types of formulas used to figure out credit scores. Each formula has a different range. In all of the examples below, a credit score of 828 is possible. FICO Fair Isaac Co. FICO Score* 300-850 Equifax ScorePower Score 300-850 Experian PLUS Score 330-830 Experian Vantage Score 501-990 TransUnion TransRisk Score 400-925
Does it help your credit to have credit cards from department stores?
One of the factors that makes up your credit score is credit diversification. This means having a variety of different types of credit. Four different types you can have is mortgage loans, car loans, credit cards, and department store cards. So having a department store card that reports to the credit bureaus will help your credit.
How is your FICO credit score calculated?
Credit score depends of following factors # On Time Payments # Quantity and Amount of Loans # Length of Credit history # Types of Credit Lines # Previous Credit Card Applications
What types of financial habits are considered when a credit score is calculated?
gujjhn
Determine beacon score?
Determining a beacon score is difficult, they use a number of factors: Credit history length Payment history Credit utilization ratio Types of credit used
What types of behaviors affect your credit score positively?
dude wheres my car
