How is credit score calculated?
Consumers are generally aware that it is important to have a good credit score. Potential landlords, insurance companies, creditors, employers, lenders and others make business and hiring decisions based on a FICO score. Building a higher score and a better credit profile are financial decisions that people can make. Not only will a high credit score save a lot of money during a lifetime, but a high score demonstrates a borrower's creditworthiness. A low score, on the other hand, can result in negative outcomes.