Some factors that influence the credit score are credit experience (length of time consumer has used credit), account payment history, amount of UNUSED credit available, type of credit used, home ownership, amount of credit in use and number of inquiries.

In order to streamline the decision making process, the lending industry has developed a system which scores the borrower's credit history. The score is seen as predictive of the borrower's ability and willingness to repay the loan. Such scoring gives the lender the ability to give the borrower a rapid credit decision by using automated underwriting software currently available.