How are credit scores calculated?

The video tutorial explains the evolution of borrowing and credit scoring, focusing on the FICO score system. It details how credit scores are calculated, the factors affecting them, and their significance in financial decisions. The tutorial emphasizes that credit scores reflect past debt relationships and not personal financial responsibility. It also covers the importance of maintaining a good credit score for achieving life goals like home ownership and business startups.

Explain the impact of credit utilization on a credit score.

What are the potential consequences of applying for multiple credit cards in a short period?