Your credit score is a very important part of personal financial health, insuring that credit is extended to you, and at the best rate possible. There are various factors considered when calculating your individual score, and it is important to be familiar with exactly how each of these positively or negatively affects your personal rating. The following map shows averages by state, so you can see how you stack up to the rest of the country.
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Hightlights from the infographics:
Your credit score
FICO scores (credit-bureau ratings produced by Fair Isaac) are provided to lenders by the three major credit reporting agencies: Equifax, Experian, and TransUnion. The higher your score, the lower a credit risk you are to lenders.
Discounts on a FICO score
To get your real FICO credit score, you’ll need to buy it from Fair Isaac at myfico.com. Before you purchase the FICO score, search around online for myfico promo code that will usually give you up to 25% off your total order.
What’s in your FICO
FICO scores are calculated from a lot of different credit data in your credit report. This data can be grouped into five major categories. Here are the percentages reflecting how important each of the categories are:
- 35% – Payment history
- 30% – Amounts owed
- 15% – Lenght of credit history
- 10% – New credit
- 10% – Type of credit used