Understanding Credit Scoring

Your business is more than just a credit score to us

KeyBank includes business credit scores in its lending decisions. For us, it’s one of many factors that we look at prior to lending. Our local business lending specialists can work with you to determine what your score is now, and if needed, discuss how to improve on that score in the future.

Credit scores themselves are based on multiple information inputs, and the importance of any factor depends upon your unique situation.

Of credit score types, the most common are the risk scores developed by FICO®, formerly known as Fair, Isaac Corp. While national credit-reporting agencies (Experian, Equifax and Trans Union) use their own data and score names, the underlying methodology is generally based on FICO’s. We obtain scores through these agencies.

Your report may include "score reason codes," e.g., “Number of accounts with delinquency." Codes provide insight into your score. For example, a low score may arise from a short-term setback that you have since overcome.

Your score does not consider your ethnic group, religion, gender, marital status and nationality, as prohibited by Federal law. To get a copy of your credit report or to correct information in the report, we suggest that you contact the credit-reporting agency directly.