How Credit Reports Are Determined

For more than five years Think Credit Reports has been providing premium account holders with quarterly credit scores included at no additional charge. Think Credit Reports customers are given access to credit information from all three major credit data bureaus.

An individual’s credit score is determined by calculating numbers in several major areas. First, more than one third of a credit score is based on payment history, including how frequently a person becomes delinquent on an account. Nearly equal in importance to payment history is the total amount owed; while excessive debt will negatively affect a score, having a number of active credit accounts, however, is not necessarily a bad thing. Additionally, the length of time an individual has been building credit is important, including when a person’s oldest and newest credit accounts were opened. Finally, the types of credit in use and the rate at which a person opens new credit accounts each represent 10% of an individual’s credit score.

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