 
Details used in Credit Scoring Models
Although a variety of factors are evaluated and these factors can differ depending on the model used, most scoring systems include some basics. These include:
Payment history
Do you pay your bills in a timely manner? If you have a history of paying bills late, or have had outstanding bills referred to collections agencies, your credit report will reflect this. This can be a very significant hindrance to obtaining credit.
Outstanding Debt
The amount of outstanding debt an individual has can be an important factor. This is particularly true if the amount of outstanding debt is significant enough to come close to the credit limit of an individual.
The length of credit history
A longer history of credit is usually viewed more favorably than a short history. Having said that, a short credit history that demonstrates low debt balances and timely bill payments can negate the negatives of a short credit history.
Recent credit applications
Too many recent credit applications can negatively impact your credit score. A creditor can see these applications by considering the amount of recent inquiries on your credit report. Keep in mind that not everyone who inquires about a credit report will be listed, including those offering 'prescreened' credit offers and those creditors who are simply monitoring an account.
The number and type of credit accounts
Well established credit accounts are viewed favorably; however, too many credit accounts can be a negative.
Many credit scoring models use other types of information not reflected on credit reports. These can include assets, such as a house or car, current and past employment, length of employment, salary, bonuses, health coverage and others.
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