How is my credit score calculated?

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Using a complex formula, credit bureaus will compile a record of your personal credit transactions, employment history, and income, they rate your debt repayment performance according to a credit score chart that indicates how well you manage your debt.

Credit bureaus look at the following factors when calculating your credit record:

  • Your repayment history
  • How much you owe
  • The different types of credit you have applied for and how often
  • How long your accounts have been open
  • How much of your available credit you’re using
  • If you have a history of bankruptcy or a judgment against you