How a credit score is calculated

Fair Isaac and Vantage Score hold their credit scoring formulas as a close secret much like the formula for Coca-Cola or your grandma’s legendary double chocolate-chip cookies. This can be very frustrating for consumers when they see remarks on the credit report like “too many revolving debt accounts” and not knowing exactly what that means. Fortunately, Fair Isaac and Vantage Score have issued some public information about how they calculate credit scores.