This credit score number is a relative number and as much as possible objective. By relative I mean that it compares your financial habits with others in similar situation. The first step is gathering information about how you treat money, do you pay your bills on time, how many credit accounts you have, what type, do you have any collection action against an account, how much total debt you have, and a bunch of other data.
Then the objective part kicks in by using mathematical calculation that do not care about how you look, what religion you have, etc. The lenders only want to know how likely you are to pay their money back in a timely manner and without hassling them.
The FICO score calculations consider the following factors…
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