What is a Credit Score?

Credit Scores are generated from a variety of factors of things appearing on your credit report. These can either positively or negatively affect your score, which range from 300-800.

A credit score is generated by a few main factors. These are the aspects measured to build positive credit history:

  1. Payment History

  2. Number and Type of Accounts

  3. Length of Open Accounts

  4. Number of Hard Inquiries for Credit

Other factors which negatively affect your score include:

  • Collection Accounts

  • Judgements

  • Missed Payments

  • Bankruptcy

  • Missed Insurance Payments

Three companies gather this information
and generate you a score. 







Every month, the lenders you've taken credit from report your payment history to any or all of the 3 credit bureaus. Positive history will slowly raise your score over time, while negative payment history will crush your credit score almost immediately. 

Information such as balance carried, amount paid each month, monthly balance, payment history of life of account, interest rate, available credit, frequency of payments and more information are submitted each month. 

Lenders you are applying for credit with can pull this info from any of the bureaus to review your credit worthiness and establish a loan suitable for your financial situation.