How Your Credit Score Is Calculated

Bad Credit, Credit Score, Credit Repair > Credit Repair Info > Credit Score in case you're wondering how your credit score is calculated, let me tell you right now. Your credit score is calculated by plugging in all the information from your credit report into a special credit risk analysis software. One of these programs was invented by Fair, Isaac and Company... Why do you think they call it your FICO score? This credit report software will analyze the information from the credit report and it will generate a Number. See also: What Is Considered A Good Credit Score? This may come as a surprise to you but... Your credit score may not be the same in all the credit reporting agencies. The reason is simple... Each credit reporting agency may use a different credit scoring software to calculate your credit score. For example... TransUnion and Equifax uses scored produced by FICO - Your FICO Score Experian does use FICO, they use they own "PLUS" system All 3 companies also use VantageScore... well they came up with it (See: VantageScore Vs. FICO Credit Score) So depending on where your credit score comes from you may find out that your credit score is different. Since we are discussing credits score, I guess I should tell you why sometimes they refer to your credit score as your FICO score. That's because it's the most popular scoring system out there. Now you know what FICO stands for.   REPLY to this article Share this: Twitter  Facebook  More Also read these articles FICO Score Explained Macys Credit Card, A Good Way To Establish Credit Credit Repair Scams And Bankruptcy NO Credit - No Credit History Tips For Dealing With Creditors   Leave a Reply Name (required) E-mail (will not be published) (required)   <<   Enter code Return from How To Calculate Credit Score to Credit Score