three credit report – credit bureaus

How long have credit bureaus been in existence?

May 21st, 2010 admin

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Posted in Credit Tags: Credit Bureaus, Existence, Fico Scores

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One Response to “How long have credit bureaus been in existence?”

1. SPIFIMAN1 says:

   May 23, 2010 at 7:40 pm

   Melanie

   If I remember correctly it was 1968.

   Scores are based on the following factors;

   1. Payment history 35%
   2. Time in bureau 15%
   3. Types of credit 10%
   4. New credit 10%
   5. Debt to credit ratio 30%

   As far as how much weight they have, that depends, if you are one of those that can afford to pay cash for whatever you want or need they carry no weight, but if you are like the rest of us that muct finance when we buy cars, boats or homes then they have tons of weight. No pun intended.