For the most common credit scores, the information that goes into your score comes from your file at the credit reporting companies, which is why it is so important to review these files to ensure they are accurate.
Credit Score Ranges
The most commonly used credit score is known as FICO. The name comes from the Fair Isaac Corporation, which developed the scoring model. They are used to predict the likelihood that a person will pay his or her debts. The scores use only information from credit reports.
- FICO credit score range: 300 – 850.
- VantageScore credit score range (version 2.0 and earlier): 501 – 990
- VantageScore credit score range (version 3.0 or later): 300-850
Common Factors That Make Up A Typical Credit Score
- Your bill-paying history
- The number of accounts you have and what kind
- How much of your available credit you are using
- How long you have had your accounts open
- Your recent credit activity
- Whether you have had a debt collection, foreclosure, or bankruptcy, and how old these are
By law, the calculation of your credit score cannot use or take into account factors such as race or color, religion, gender, national origin, or marital status.