« Communications with a Debtor/Customer | Main | Online Resources for Credit Professionals »

Jul31
What makes up a Credit Score?
A credit score is a number, but what does that number mean? Where does it come from?  What am I supposed to get from that number?

You run a credit report on a new potential customer.  "Ah! This guy is a 600!!"
 Is that good? Bad? What does it mean?

The only things in a credit report that affect a credit score are:

  • Number of late payments
  • Type, number and age of accounts
  • Total debt
  • Recent inquiries
  • How late payment are or were at any time

Check out if a 600 is a good score!

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