A: Variance explained by factors
Factor Eigenvalue Percent of
variance
explained
Cumulative percent
of
variance
explained
1 2.96 21.13 21.13
2 2.37 16.94 38.07
3 1.41 10.10 48.17
4 1.30 9.26 57.43
B: Identified factors
Attribute Rotated Loading Characteristic
Factor 1
1. 30 Days late paying a bill 0.87 Payment difficulties
2. “Hard time” paying bills on time 0.84 Payment difficulties
3. Contact by collection agency 0.73 Credit damage
4. Late payment call/letter from creditor 0.73 Credit damage
Factor 2
1. Combined total non-mortgage loan balances 0.68 Credit use
2. Combined total before-tax income 0.67 Financial resources
3. Home ownership 0.66 Financial resources
4. Auto loan 0.59 Credit history
5. Home equity loan/line 0.49 Credit history
Factor 3
1. Combined financial net worth 0.61 Financial resources
2. Payment of combined monthly credit card bills 0.50 Credit use
3. Other installment loans 0.37 Credit history
Factor 4
1. Turned down for loan/credit card 0.82 Credit damage
2. Check returned for insufficient funds 0.61 Payment difficulties