35% is based on your credit history over the past 2-years
30% is based on the amount of the credit extended to you
15% is based on the length of your credit history
10% is based on the types of credit you have i.e. installment
10% is based on the number of inquiries into your credit history
Your credit score is now more important than in the past. Your credit score is used if you want to buy a home, buy a car or even rent an apartment. The lower the credit score the more problematic it is for you to obtain a reasonable interest rate or even qualify for a loan or lease an apartment. Start working on improving your credit score.
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