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Credit mix (10%): Evaluates the variety of credit types you have, such as mortgages, student loans and credit cards. This shows your ability to manage different kinds of credit responsibly.
The classic FICO credit score (named FICO credit score) is between 300 and 850, and 59% of people had between 700 and 850, 45% had between 740 and 850, and 1.2% of Americans held the highest FICO score (850) in 2019. [15] [16] [17] According to FICO, the median FICO credit score in 2006 was 723 [18] and 721 in 2015. [19]
A credit score is a numerical expression based on a level analysis of a person's credit files, ... (meaning the borrower has defaulted on the loan) or not. [30]
A credit score is primarily based on a credit report, information typically sourced from credit bureaus. [2] Lenders, such as banks and credit card companies, use credit scores to evaluate the potential risk posed by lending money to consumers and to mitigate losses due to bad debt.
Poor Credit Score: 579 or lower is ... The average credit score for an Idaho resident is 729, which means people living there tend to have good credit. The average debt is $120,766.
This factor makes up 30 percent of your credit score; typically, a higher credit utilization ratio means a lower credit score, as lenders can view carrying higher amounts of debt as a liability.
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