{"id":1910,"date":"2023-07-11T16:50:13","date_gmt":"2023-07-11T16:50:13","guid":{"rendered":"https:\/\/resource-center.sprucemoney.com\/?p=1910"},"modified":"2023-09-01T18:04:42","modified_gmt":"2023-09-01T18:04:42","slug":"how-credit-score-is-calculated","status":"publish","type":"post","link":"https:\/\/stg.sprucemoney.com\/resource-center\/building-credit\/how-credit-score-is-calculated\/","title":{"rendered":"How your credit score is calculated \u2013 really"},"content":{"rendered":"\n<p>There\u2019s a lot of financial information available at our fingertips, but it\u2019s important to know what\u2019s a fact and what\u2019s fiction. Take understanding what affects your credit score. Do you really know how it\u2019s calculated?<\/p>\n\n\n\n<p>Check out the video below where we bust a common myth about credit scores.<\/p>\n\n\n\n<p>Learn how you can <a href=\"https:\/\/www.sprucemoney.com\/credit-score\/\">monitor your credit score<\/a><sup><button data-disclaimer-trigger=\"5\" class=\"js-disclaimer-link\"><span class=\"reader\">Disclaimer number<\/span><span>5<\/span><span class=\"reader\">. Go to disclaimer for more details.<\/span><\/button><\/sup> with Spruce for free. <a href=\"https:\/\/account.sprucemoney.com\/signup\/\"><strong>Get started with Spruce today<\/strong><\/a><strong>.<\/strong><\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"What Goes Into Your Credit Score?\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/U18NyppdniY?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<p><\/p>\n\n\n\n<p><em>This information provided for general educational purposes only. It is not intended as specific financial planning advice as everyone\u2019s financial situation is different.<\/em><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p>Script: <\/p>\n\n\n\n<p>Listen \u2014 You may have heard some myths out there about credit scores \u2026 like the only thing you need to worry about is paying bills on time.<\/p>\n\n\n\n<p>Ya, that\u2019s important \u2013 but if you care about good credit, you need to know the full story. Why? <strong>Because good credit is key.<\/strong> The higher your score, the better \u2013 because it\u2019s a huge determining factor for things like getting approved for credit cards, loans, and such.<\/p>\n\n\n\n<p>So, how is your credit score calculated?<\/p>\n\n\n\n<p>There are 5 factors that make up your credit score \u2014 and some are a bigger deal than others.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Paying your bills on time is huge. But here\u2019s what else affects your score:<\/li>\n\n\n\n<li>How much you owe across lines of credit<\/li>\n\n\n\n<li>How long you\u2019ve had a credit history<\/li>\n\n\n\n<li>How often you\u2019re applying for new credit<\/li>\n\n\n\n<li>What types of credit you have<\/li>\n<\/ul>\n\n\n\n<p>Spruce can help you keep tabs on your credit score. Want to know more? Visit Spruce money.com.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>There\u2019s a lot of financial information available at our fingertips, but it\u2019s important to know what\u2019s a fact and what\u2019s\u2026<\/p>\n","protected":false},"author":1,"featured_media":1921,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[6],"tags":[],"class_list":["post-1910","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-building-credit"],"acf":[],"yoast_head":"<title>How Is Credit Score Calculated | Spruce<\/title>\n<meta name=\"description\" content=\"Understanding how your credit score is calculated is key. 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