Duration of credit rating: What this means to your rating
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To make a FICO credit rating, borrowers must have at the very least some credit rating. Even though it’s maybe not probably the most greatly weighted factor utilized to calculate a borrower’s FICO rating, the size of a borrower’s credit score does matter. And within that component, age and experience typically prove useful.
“Generally, the older your amount of credit rating, the higher it really is for the FICO score, ” said Barry Paperno, a credit scoring specialist who has got struggled to obtain FICO and Experian.