WHAT ARE THE FACTORS CONSIDERED WHEN CALCULATING YOUR FICO SCORE?

Past Payment History (35%) - Bankruptcy, late payments, past due accounts and wage attachments.

Amount of Credit owing (30%) - amount owed on accounts, proportion of balances to total credit limits.

Length of credit established (15%) – time since accounts opened, time since last account activity.

Search for and acquisition of new credit (10%) – number of recent credit inquiries, number of recently opened accounts.  

Types of credit established (10%) – number of various types of accounts (credit cards, retail accounts, mortgage)