Q
How do credit scores work?
A
Expert Answer
Credit scores (300-850) predict repayment likelihood based on: payment history (35%), amounts owed (30%), credit history length (15%), new credit (10%), and credit mix (10%). Scores above 670 are generally considered good; above 800 is excellent.
Key Insight
Credit scores (300-850) predict repayment likelihood based on: payment history (35%), amounts owed (30%), credit history length (15%), new credit (10%), and credit mix (10%).
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