Answer:
Your credit scores are determined by credit scoring models that analyze one of your consumer credit reports and then assign a score using complex calculations.
Explanation:
The five pieces of your credit score
- Your payment history accounts for 35% of your score.
- How much you owe on loans and credit cards makes up 30% of your score.
- The length of your credit history accounts for 15% of your score.
- The types of accounts you have made up 10% of your score.
- Recent credit activity makes up the final 10%.
