FICO scores are composed of:

  • Payment History (35%): whether or not you’ve paid past credit accounts on time
  • Amounts Owed (30%): credit utilized compared to the amount of available credit
  • Length of Credit History (15%): length of time credit has been open and utilized
  • Credit Mix (10%): mix of credit lines in use (credit cards, retail accounts, installment loans, finance company accounts, and mortgage loans)
  • New Credit (10%): lines of credit opened within a short, recent period of time