• Antonio Buchanan

What factors make up your credit score?

FICO scores are calculated based on the following criteria:


Payment History is 35%

- Pay all your debts on time


Amounts owed is 30%

- Credit utilization ratio (lower the percentage, the better)


Length of Credit History is 15%

- The longer you have been using credit responsibly, the better


Credit Mix is 10%

- It’s best to have a variety of accounts such as revolving debt (credit cards) & installments (loans)


New Credit is 10%

- Refrain from applying for new loans and credit cards in a short period of time. Lenders will think you are desperate for credit. 

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