FACTORS THAT AFFECT CREDIT SCORES

The 5 factors weighed to calculate your score are: 35% payment history; 30% amounts owed; 15% length of credit history; 10% new credit; 10% types of credit. An individul's age is not a factor, but length of credit is therefore young people are at a disadvantage. A few accounts of 5 years with no late payments score higher than 15 new accounts of no late payments.