The FICO scoring model is based on five main factors:












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Payment History (35%)
Do you pay your bills on time? Late or missed payments hurt your score the most. -
Credit Utilization (30%)
This is the percentage of credit you’re using compared to your total limit. Experts recommend staying below 30%. -
Length of Credit History (15%)
The longer you’ve had credit accounts open, the better. Older accounts show stability. -
New Credit (10%)
Opening too many accounts in a short time can lower your score.