Period of credit rating: just exactly What this means to your rating

Period of credit rating: just exactly What this means to your rating

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To make a FICO credit rating, borrowers have to have at the very least some credit score. The length of a borrower’s credit history does matter although it’s not the most heavily weighted factor used to calculate a borrower’s FICO score. And within that component, age and experience typically prove useful.

“Generally, the older your period of credit score, the higher it really is for the FICO score, ” said Barry Paperno, a credit scoring specialist who may have struggled to obtain FICO and Experian. Continue reading “Period of credit rating: just exactly What this means to your rating”