The Credit Scoring System

Add your credit points up and you will have a "rough" idea of what your credit rating will be like

AGE POINTS
18-21 0
22-25 1
26-64 2
65-69 1

MARITAL STATUS
Married 1
Single 0
Separated 0
Widowed 0
Divorced 0

DEPENDENTS
No Dependents 0
One to three 2
Over three 1

RESIDENCE
Rent Unfurnished 2
Rent Furnished 1
Own without Mortgage 4
Own with Mortgage 3
Live with Parents 1

PREVIOUS RESIDENCE 0 to 5 Years 0
6 Years and up 1

MONTHLY OBLIGATIONS
0 to $250 1
Over $250 0

CREDIT HISTORY
Loan at this Bank 4
Loan at Other Bank 3
Savings Account 2
Checking Account 2

OCCUPATION
Professional 3
Skilled 2
Unskilled 1

YEARS WITH EMPLOYER
Under One 0
One to Three 1
Four to Seven 2
Eight or Over 3

MONTHLY INCOME
Under $600 1
$600 to $1,000 2
$1,000 to $1,250 3
$1,250 to $1,500 4
$1,500 to $2,000 5
$2,000 and Over 6

TELEPHONE
Listed in Applicants Name 2
Not Listed in App's Name 0

In most cases, 18 points is the minimum number of points acceptable if you are to receive an unsecured loan. The factors most leading institutions weigh the heaviest are a good salary, a good paying record and minimal obligations.