Credit Score - FAQ

Your Credit Score is calculated on the basis of a number of factors, such as: debt amount, payment history, credit inquires, age of credit and mix of credit.

Since your Credit Score is based on your payment history in 35%, a late payment will influence your Credit Score.

There are four pieces of information included in your credit report: your personal information (name, address, date of birth, employer), your credit account history (what types of accounts you own, account balances and credit limits, payment history), your public records (liens, judgments, bankruptcy etc.) and credit inquiries.

All information concerning your ethnicity, gender, religious and political preferences, criminal records or medical history are not included in your credit report.

Negative information will remain on your credit report for a minimum period of seven years.

No. You can't hurt your score by checking your own credit reports. Only frequent verifications of your Credit Score by third party companies can affect your Credit Score.

Depending on the frequency of your Credit Score updates, it can change on a daily basis.

The higher your debt, the lower your Credit Score. As a general rule, the level of your debt represents 30% of your Credit Score.

Yes, being unable to pay your debt will probably be reported to the credit bureaus and will have a negative impact on your Credit Score.

Your Credit Score is used by lenders to ascertain that you qualify for a loan, it allows them to evaluate the potential risks of lending you money and to reduce possible losses as a result of bad credit.