The credit bureaus use a mathematic algorithm to calculate your credit score from the data on your credit report. The data on your credit report is analyzed using industry-approved financial experience assumptions and then entered into the calculation used by the credit bureau.
- Why are credit scores referred to as FICO scores?
- Is it a problem if my partner and I want to purchase a home together but we have dramatically different credit scores?
- Who Invented the Credit Card and When Were the First Credit Cards Issued By Diners Club?
- What information on your credit history is most important for calculating your credit score?
- Which credit bureau do I choose to get my credit report from?