How credit score is calculated.

[Iboro]

Credit score is determined by analyzing credit report data, which includes payment history, amount of debt, length of credit history, and types of credit used.

Late payments, maxed out credit cards, and collections can lower a credit score.

On the other hand, timely payments and managing debt responsibly can raise a credit score.

 

[Kane]

My home country does not make use of credit scores. There is no organization that evaluates an individual's use of credit facilities and repayment of debt to create a score. Therefore, there is no need to produce a credit score to get access to debt. However, the banks will analyze your financials and loan repayment history before giving you loans.