FICO scores are your credit rating
They range from 300-850, higher is better
Most lenders base approval on them
Higher scores mean lower interest rates
FICO scores are calculated based on your rating in five general categories:
Payment history - 35%Amounts owed - 30%
Length of credit history - 15%
New credit - 10%
Types of credit used - 10%
No comments:
Post a Comment