Trying to figure out how your credit score is calculated? Apoorvaa is going to tell you how that 3 digit number reflects on your credit report.
The 5 factors listed here are key components to calculate your credit score and if you follow all these with due care then the chances may be high that you have a good credit score.
- Payment History (35%)
- Amount Owned (30%)
- Credit History (15%)
- Types of Credit (10%)
- New Credit (10%)
In credit scoring, all these factors are considered and no one factor or incident determines it completely. So make sure that you keep following certain good practices which can help you in maintaining the credit score.
Still you have defaulted on any of these factors which have affected your credit score and you are looking for some actionable plan to rectify your credit score. Apoorvaa will stand by you to rectify it.