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DecFICO Credit Score is the most used in calculating of credit scores of individuals, here is some of the factors that determine your credit score by their percentage. Payment history (35%) Your track record of making (at the very least) minimal payment by the due date. Amounts owed (30%) How much of your borrowing capacity is actually being utilized. Divide total debt by total credit limits to arrive at this figure. Length of credit history (15%) Your active credit lines’ average age. Longer credit histories tend to demonstrate responsibility. Credit Mix (10%) The various sorts of active credit lines that […]
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NovA credit score of 700 or more is generally considered favorable for a score ranging from 300 to 850. A score of 800 or higher on the same scale is considered outstanding. The majority of people have credit scores ranging from 600 to 750. In the year 2020. Creditors may be more optimistic that you will return your future bills on time if you have a higher credit score. However, when reviewing consumers for loans and credit cards, creditors may define their own standards for what they regard to be good or negative credit ratings. This is partly determined by[…]