Key Factors That Determine Your Credit Score

So how do the credit bureaus determine your credit score? For the longest, they prefered to keep this information secret but recent pressure from consumer advocacy groups has forced them to begin to "demystify" the criteria they employ to determine your score.

1. The length of your credit history
2. Your payment history
3. The amount of money you owe
4. Type of credit
5. Credit inquiries


Remember, the score can change daily and understanding the credit scoring criteria is essential in the battle to remain debt free.