How Is A Credit Score Determined – Tips For How To Hire

Please see our updated video, published in 2020: https://youtu.be/GrDxH0hMUmg

A FICO score is the most common credit score used to determine your eligibility for a loan and what interest rate you’ll pay. Here are the 5 factors used to calculate your credit score: 1) payment history, 2) amounts owed relative to limits, 3) length of credit history, 4) frequency of new credit, and 5) types of credit. Learn about each factor in this video.
More: https://www.stlouisfed.org/education/continuing-feducation-video-series

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