It is interesting to know how the score is calculated in the credit bureau, but prior to this it is good to know its importance. The figure that shows the score is a score that shows the information of a person’s credit behavior.

This is why it can be said that it is positive or negative whether or not credits and services are paid under the responsibility of the user. Thus, the bureau’s rating is defined as: low, regular, good and excellent, according to the respective calculated score.

The ranges are: Low 300 to 550; Regular 551 to 650; Good 651 to 750 and Excellent 751 to 850.


Score calculation in the credit bureau

Score calculation in the credit bureau

For the calculation of the credit classification there are platforms that report as FICO, but the Credit Bureau also does it. The different factors involved are mentioned:

  1. The first and most important factor is to pay for all the products that are available in a timely manner. Simply forgetting or stop paying for a product on time decreases the rating.
  2. The second in importance is the level of indebtedness, since each credit or service weighs according to its debt. For example, if you have two credit cards with the same quota, but you have used more than one. So the one that has been used most significantly affects the credit rating.
  3. The following is the amount of the payment made monthly. Well, if you can cancel a total of a purchase, it is better than paying only the minimum amount. The person who has a good handling of their products, has more opportunities to acquire new services after canceling the ones he has.
  4. The amount of inquiries made to the credit history in the user’s credit bureau affects the credit rating.
  5. The time you have been registered in the credit bureau helps for an excellent rating. That is, the older you register, the better the benefit of the score.


The main thing for tranquility …

credit score

If the aforementioned is taken into account, there will be no financial discomfort, since it is not conditioned on the qualification. And much less now that he knows how the score is calculated in the credit bureau.