Credit scores are calculated based on a person's credit history including on-time payments, credit utilization, length of credit history, and types of credit used. A person's credit score typically ranges between 300-850 points, with a higher score representing lower credit risk. Credit bureaus like Equifax, Experian, and TransUnion all calculate slightly different credit scores based on their own formulas and access to different credit data.

1. (Special thanks to Michael Delgado from Experian / studenthacks.org for the image)