![The Broken World of Credit Scores: Unveiling the Perils and Solutions](https://www.ventists.com/images/7932a239fb900e2ad36d5f894a6896ef.png)
The Broken World of Credit Scores: Unveiling the Perils and Solutions
One of the major perils of credit scores lies in the lack of transparency surrounding their calculation. While most people understand that payment history, credit utilization, and credit age play important roles, the exact algorithms used by credit bureaus to generate scores are shrouded in secrecy. This lack of clarity can make it difficult for consumers to understand what steps they need to take to improve their creditworthiness.