CREDIT Scores are calculated from many different pieces of credit data in your credit report. This data is grouped into five categories, as outlined below. The percentages in the chart reflect how important each of the categories is in determining how your CREDIT Scores are calculated.

Your CREDIT Scores consider both positive and negative information in your credit report. Late payments will lower your CREDIT Scores, but establishing or re-establishing a good track record of making payments on time will raise your score.

How a Credit Score Breaks Down

These percentages are based on the importance of the five categories for the general population. For particular groups—for example, people who have not been using credit for long—the relative importance of these categories may be different.

Importance of categories varies per person

Your CREDIT Scores are calculated based on these five categories. For some groups, the importance of these categories may vary; for example, people who have not been using credit long will be factored differently than those with a longer credit history.

The importance of any one factor in your credit score calculation depends on the overall information in your credit report. For some people, one factor may have a larger impact than it would for someone with a much different credit history. In addition, as the information in your credit report changes, so does the importance of any factor in determining your CREDIT Scores.

Therefore, it’s impossible to measure the exact impact of a single factor on how your credit score is calculated without looking at your entire report. Even the levels of importance shown in the CREDIT Scores chart are for the general population and will be different for different credit profiles.

Your CREDIT Scores only look at information in your credit report

Your credit score is calculated from your credit report. However, lenders look at many things when making a credit decision, such as your income, how long you have worked at your present job, and the kind of credit you are requesting.

Payment history (35%)

The first thing any lender wants to know is whether you've paid past credit accounts on time. This is one of the most important factors in a CREDIT Score.

Amounts owed (30%)

Having credit accounts and owing money on them does not necessarily mean you are a high-risk borrower with a low CREDIT Score.

Length of credit history (15%)

In general, a longer credit history will increase your CREDIT Scores. However, even people who haven't been using credit long may have high CREDIT Scores, depending on how the rest of the credit report looks. 

Your CREDIT Scores take into account:

  • How long your credit accounts have been established, including the age of your oldest account, the age of your newest account, and the average age of all your accounts

  • How long specific credit accounts have been established

  • How long it has been since you used certain accounts

Credit mix in use (10%)

CREDIT Scores will consider your mix of credit cards, retail accounts, installment loans, finance company accounts, and mortgage loans.

New credit (10%)

Research shows that opening several credit accounts in a short period of time represents a greater risk - especially for people who don't have a long credit history.