KNOW THE FIVE FICO® SCORE FACTORS
Your payment history.
Your payment history.
(35% of your score)
The most important factor. A record of paying bills on time shows you can be trusted.
What you currently owe.
(30% of your score)
Having some debt isn’t a problem. Approaching the maximum of existing lines of credit may appear risky.
Your credit history.
(15% of your score)
How long you’ve had credit accounts and how recently you’ve used them. If you’re a young borrower, no worries — you’ll build your history over time.
Your credit mix.
(10% of your score)
Credit cards, car and mortgage loans, retail accounts, etc. There’s no perfect mix but demonstrating that you can manage a range of different credit lines looks good.
New credit you’ve applied for.
(10% of your score)
This is a small factor but applying for multiple new lines of credit may raise cause for concern.
