Accordingly, the information is divided into five sets or categories with the corresponding percentages which reflect the significance of each category in the final computation of scores for your credit card debt, namely: (1) Owed Amount--30%; (2) History of Payments--30%; (3) Duration of Credit Record--15%; (4) Nature or Kinds of Credit Currently in Use--10%; and lastly (5) Latest Credit Inquiries --10%.

In general, these credit bureaus compute the debtor's credit score using a three figure number which range from 300 up to 850. The higher the credit score, the better opportunity of acquiring low interest rates for the loan being applied for and a better opening for wealth accumulation.

The industry of credit-scoring has been making different opinions and wide-spread reactions to the public. The consumers fear that credit-based rating or scoring will pose a negative impact or unjust rating to them and will affect their economic standing and other monetary transactions.

Some credit bureaus justify their reason of gathering information and making credit rating or scoring. For them, their work is to help lending businesses formulate efficient and effective economic decisions.

Others create a distinction between the credit-based scores of insurance companies which predicts the loss of propensity and the credit scores which is just to predict the worthiness of a particular person to pay.

Each of different companies should develop its own credit-base rating or scoring algorithm to serve better the consumers. Below are some of the techniques adopted in credit scoring:

-- Forming a Credit Assistance Group/Team--they are the quick response team that will give assistance to consumers calling through toll-free numbers. The public would certainly like to know the effect of credit records or rating to their application of loans, mortgage, employment and/or insurance transactions.

Also included to the team's responsibility is the making of reports on the personal credit insurance of the consumers or client. This report will show the consumer's variable score and the comparison with the aggregate rating or score

--Revising a New Method in Credit Scoring- this simplified way utilizes nine variables instead of the usual sixteen. Their algorithm will calculate the credit scores by assigning 100 as a foundation score.

--For those consumers with no credit records or whose credit histories are lacking, they will establish a program which will particularly cater to these groups of creditors to somehow uplift their credit ratings.