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Understanding Factors that Affect Credit Scores

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Question: 
Where can I find information regarding credit scores? I would like to know more about the factors that affect the score, good and bad, which is better, some balance or no balance, high limit vs. no limit and closing accounts at customer’s request.
Answer: 

There is no general availability of information about credit scores. You might be able to find research papers on the topic that discuss specific factors. It is important to know that no two systems are exactly alike. A factor that is negative in one system may not even be considered in another. In short, there is no way to beat the system. If a person wants a good credit score, he needs to pay his bills on time and not get into excessive credit obligations.

First published on BankersOnline.com 3/26/07

First published on 03/26/2007

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