What Is a Credit Score? How Is It Determined?
The most widely used credit scores are FICO scores, which were developed by Fair Isaac and Company, Inc. Your FICO score is between 350 (high risk) and 850 (low risk). Credit scores consider only the information contained in your credit profile. They do not consider your income, savings, down payment amount, or demographic factors such as gender, race, nationality or marital status.
Past delinquencies, unsatisfactory payment behavior, current debt level, length of credit history, types of credit and number of inquiries are all considered in credit scores. Your score considers both positive and negative information in your credit report. Late payments will lower your score, but establishing or reestablishing a good track record of making payments on time will raise your score.
Different portions of your credit history are given different weights.