The Ideas Behind Credit Score Formula

Credit scores can be used to judge a persons ability to repay a loan using past records. There are many different ways to calculate it and each way uses its own credit score formula. The formula will be used by the credit reporting agency to get a credit score from your financial history. Thought the formulae themselves are proprietary, that is they are private property of credit reporting agencies, we can still off a rough plan as to what the formula consists of. Knowing at least some part of the credit score formula you can predict and improve upon your credit score.

30 July 2008 | Business