Factors Affecting Credit Score — What Is My Credit Score?

Factors That Impact Your Credit Score

• There is a common misconception that your age, salary, and employment history decide how creditworthy you are. That is simply not true.

• These factors play just as much a role as your race, ethnicity, nationality, religion, gender, marital status, area of residence, or assets play in determining your credit score — None!

• The system used to calculate your credit score is efficient, and only assesses your behavior pattern concerning credit.

What Is My Credit Score?

• In layman’s terms, your credit score is a number that tells how worthy you are of getting credit.

• Lenders use your credit score to evaluate whether you will repay your debts responsibly or not. 

• A high credit score would make you a worthy candidate in the eyes of lenders, whereas a low credit score could easily hinder your chances of getting credit.