Your credit report is generated by three major companies - Experian, Equifax, and TransUnion - and factors in your payment history, total debt owed, length of credit history, new credit applications, and credit mix. A credit score ranges from 620 to 760, with the highest scores indicating excellent creditworthiness. Payment history accounts for 35% of your score, amounts owed for 30%, and length of credit history for 15%, with new credit and credit types each accounting for 10%. To improve your credit score, you should pay all bills on time, avoid opening multiple new accounts unless needed, keep credit balances low under 25% of limits, and regularly review your credit report.

1. Give Yourself Some CreditsUnderstanding Your Credit ReportArvin AlpuertoEconomics 101

2. Generated by three companiesExperian, Equifax, TransUnionFactorsPayment history for each companyHow much you owe to each companyIncludes utilities, medical expenses, rent Credit Report Fundamentals

3. Range-760 (excellent) to 620 (poor) 35% - Payment history 30% - Amounts owed 155 – Credit history length 10% - New credit 10% - credit types How FICO Is Calculated

4. Pay bills on time