Your credit score gives a numerical picture of your credit.

• Lenders look at this number to determine if they should give you credit and how much credit you should have.

• The Fair Isaac and Company (FICO) uses five elements of credit to determine your score:

  1. payment history
  2. current debts
  3. length of credit history (in years)
  4. new accounts
  5. types of credit used

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