Skip to main content

Factors Used to Determine Your Credit Score

Apr 28, 2015 08:03AM, Published by Erik Dittmann, Categories:



By: Kris Weninger
Weninger Mortgage Team Fairway Independent Mortgage Corporation - Beaver Dam , WI

Nearly any time you apply for credit, the lender will check your credit score.  So much has been advertised and written about credit scores that I thought it would be a great opportunity to discuss what goes into this important number.  There are five major factors used to determine your score. Let’s review!

The 5 Factors that Determine Credit Score:

PAYMENT HISTORY – 35%    The more often you pay your bills without exceeding the late period, the higher your Payment History score.

AMOUNT OWED VS CREDIT LIMIT – 30%   The closer your current debt is to your credit limit the potential the lower scores you can have.  

LENGTH OF CREDIT – 15%   The longer you have active accounts, the higher the credit score.

MIX OF CREDIT – 10%   A mix of different types of loans such as credit cards, car loans and student loans increases your credit score. 

NEW CREDIT ENQUIRIES – 10%  The more often you apply or look for new credit, the lower your credit score. 

It is always good practice to review your credit score annually to make sure your accounts or Social Security Number have not been breached and to take any actions necessary to address any discrepancies. 

Fairway Independent Mortgage Corporation (NMLS 2289).

Kristine Ann Weninger (NMLS#225608)

836 Park Ave, Beaver Dam, WI 53916

920-960-0852  kweninger@fairwaymc.com

Equal Opportunity Lender




real estate mortgage lending credit score borrowing


  • Mom's Unite Evening Meet Up

    07/25/2017
    06:00PM — 07:00PM

    Join us for a Mom's Group! Bring your kids or bring yourself! The choice is yours! Our Mom's g...


  • Mom's Unite Morning Meet Up

    07/26/2017
    08:30AM — 09:30AM

    Join us for a Mom's Group! Bring your kids or bring yourself! The choice is yours! Our Mom's g...


  • Native Prairie Plants and Seed Bombs

    07/26/2017
    06:00PM — 07:00PM

    Learn about native Wisconsin prairie plants from Elizabeth Herzmann, WI Department of Natural Re...


  • Kids From Wisconsin

    07/26/2017
    07:00PM — 09:00PM

    The Kids from Wisconsin are back at the Schauer for their 49th show season! Sit back, buckle up, ...


  • Adventure Kids

    07/27/2017
    09:30AM — 11:00AM

    Drop the kiddos off to a morning of ADVENTURE! Adventure Kids includes Adventure, Crafts and Play...


  • Mom's Unite Active Play Meet Up

    07/27/2017
    10:30AM — 11:30AM

    Join us for a Mom's Group! Bring your kids or bring yourself! The choice is yours! Our Mom's g...


  • Bike Night at the Library

    07/27/2017
    06:00PM — 07:30PM

    Ride your bike to the library to see a Beaver Dam Police Department Bicycle up close, enter to wi...


It looks like we don't have any events for this date. You can always add an event.

It looks like we don't have any events for this date. You can always add an event.

It looks like we don't have any events for this date. You can always add an event.

  • Mom's Unite Evening Meet Up

    07/25/2017
    06:00PM — 07:00PM

    Join us for a Mom's Group! Bring your kids or bring yourself! The choice is yours! Our Mom's g...


  • Native Prairie Plants and Seed Bombs

    07/26/2017
    06:00PM — 07:00PM

    Learn about native Wisconsin prairie plants from Elizabeth Herzmann, WI Department of Natural Re...


  • Kids From Wisconsin

    07/26/2017
    07:00PM — 09:00PM

    The Kids from Wisconsin are back at the Schauer for their 49th show season! Sit back, buckle up, ...


  • Bike Night at the Library

    07/27/2017
    06:00PM — 07:30PM

    Ride your bike to the library to see a Beaver Dam Police Department Bicycle up close, enter to wi...


  • EARTHcamp - Big Blue Planet

    08/05/2017
    09:00AM — 03:00PM

    With this theme, campers will learn about recycling, water quality and conservation, wetland res...



High School Sports
Weekly Recipes