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Credit scores are calculated using many different pieces of credit data in your credit report.

Payment History: 40% of your score is payment history – a snapshot of how well you’ve paid your bills on time. Consistently paying your bills on time is important.

Credit Usage: 23% of your credit score is based on the amount of credit used out of the total credit available. Experts recommend using less than 30% of your total credit.

Credit Age: 21% of your score is credit age. The longer your credit history, the better.

Account Mix: 11% of your score is based on revolving credit (credit cards) and installment accounts (student loans, auto loans, mortgage).

Inquiries: 5% of your score comes from “hard” inquiries, such as when you apply for a loan or credit card.