<human>:  How are credit scores calculated?
<bot>: Credit scores are calculated based on a variety of factors, including payment history, amount of debt carried, the length of the credit history, types of credit used, and new credit inquiries. A credit score is a numerical representation of a person's creditworthiness, based on their financial history. Credit scores range from 300-850, with higher scores representing higher levels of creditworthiness and lower scores indicating an increased risk of default.