Credit 101, Part 2

credit score diceWhat’s in a Credit Score

Now that you know how to obtain your credit report, from our Credit 101 Part 1 Article it’s important to understand how the credit reporting agencies determine your credit score.  According to www.myfico.com, your score is calculated from several different pieces of credit data in your report.  This data is grouped into five categories, each of which is weighed differently.  The five categories break down as follows:

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