- The FICO score uses five weighted factors. How you've paid your bills accounts for 35 percent of your score. How much you owe accounts for 30 percent of your score. Your length of credit counts for 15 percent of your score. Your recent applications for new credit and the types of credit you've used each account for 10 percent of your score.
- Only credit information from the past seven years affects your credit score, with limited exceptions. Inquiries only affect your credit score for one year and chapter 7 bankruptcy stays on your credit report for 10 years. Newer credit information affects your credit score more than older information.
- The FICO score does not take into consideration your age, race, marital status or where you live. In addition, your employment information, such as your employer, salary and length of employment, do not affect your score.
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