Factors That Affect Your Credit Score

Credit Score Factors

To accurately fix your rating, you must consider the multiple factors that go into calculating your credit score.

Fixing your credit without knowing about the five credit factors is like trying to win at chess without knowing all the rules.

Although each scoring model uses slightly different formulas, you should know your FICO® score factors comprise of these five elements:

1. Payment history: 35% of your score
2. Credit utilization: 30% of your score
3. Credit history: 15% of your score
4. Credit mix: 10% of your score
5. New credit: 10% of your score

What doesn’t factor into your credit score

What’s next?