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Five Components of a Credit Score

 

Most people know a credit score is important, but don’t know how it’s calculated. With credit impacting so many areas of our lives, from buying a home to landing a job, it’s essential to have a clear understanding of what goes into your score. This video breaks down the five components of a credit score- from payment history to new credit – and provides tips on how to maximize each one.

Want to know how you score? Learn more about PSECU’s free credit score service* for eligible members.

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*PSECU is not a credit reporting agency. Members must have PSECU checking or a PSECU loan to be eligible for this service. Joint owners are not eligible.

The content provided in this publication is for informational purposes only. Nothing stated is to be construed as financial or legal advice. Some products not offered by PSECU. PSECU does not endorse any third parties, including, but not limited to, referenced individuals, companies, organizations, products, blogs, or websites. PSECU does not warrant any advice provided by third parties. PSECU does not guarantee the accuracy or completeness of the information provided by third parties. PSECU recommends that you seek the advice of a qualified financial, tax, legal, or other professional if you have questions.

By: PSECU