Most people have no idea about how their credit score is determined. It is not very complicated to understand and figure out, but the hardest part here is that it constantly changes every month according to your credit payments, debts and activity.
There are different ways of maximizing your personal credit score, but the general rule of thumb here is being responsible with your loans, credits and payments. You will be surprised how big you can save if managing your credit score properly over time.

Your credit score is comprised of 5 main elements:

The largest part of your personal credit score (about 35%) is comprised of your payment history. Banks and lenders use it to analyze how much responsibility you take when paying your monthly bills. Your Credit Score will be largely affected by the number of late bills and those sent out for collection.

The next large element (about 30%) that plays a major role is your current debt. This is how much money you owe on your credit card, your car, your home, etc. You should keep your debts 25% or lower of your total limit or the debt will affect your credit score negatively.

About 15% of your credit score is affected by the length of your credit (loan, credit card, etc.) The longer your credit is extended in time the better the banks or lenders can analyze your payment history and gain more information on how good you deal with your responsibilities as a borrower.

The Type of credit will also affect your credit score, but not on a big scale (about 10%) What is analyzed is the number and types of loans and credits listed in your credit report. Too little or too much of them will negatively affect your score.

And finally, the last 10% of your score is affected by the number of inquiries your credit report has. Every time you apply for a credit card, department store card or loan, the companies issuing them will address your credit report and each inquiry will be reported. Many inquiries will hurt your rating because they indicate that you have financial problems or are expecting to go in debts. And if the inquiries are recent they are more likely to worsen your credit rating.

On the other hand your credit score will NOT be affected when checking your Credit Report and Score.