What factors do credit bureaus consider when compiling a credit record and calculating a credit score?

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