| Scorecard and how it works
Developed from a representative national sample of one million consumer credit histories, risk model:
- Analyzes the performance of those sample credit histories over a 24 month period
- Converts the data into a numeric score
- Uses those variables which most accurately predict credit performance
Important Factors That are Considered
- Presence of derogatory information
- Amount of tradeline information
- Length of time on file
Scores range from the 300's to the high 800's
Tips to improve your score:
- Don't open too many accounts.
- Keep balances far below the limit.
- Pay your bills on time.
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