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Chapter 11. CREDIT REPORTS > The No-Longer Secret Formula

The No-Longer Secret Formula

Under the now disclosed broad outline of the FICO formula, your record of timely payments of loans accounts for 35% of your FICO score; the amount and type of outstanding debt that you have accounts for 30% of your score; the length of your credit history, 15% of your score; the mix of your various credit accounts, 10% of your score; and finally, the number and types of accounts that you have opened recently makes up the remaining 10% of your score.


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