FICO Score Components

While there are other credit scoring systems, FICO® is the most widely used measure of creditworthiness in the United States.

Your FICO score, which ranges from 300 to 850, is calculated using the information in your credit report. Although the formula is complex, there are five main components:

1. Your credit payment history which shows how you’ve repaid what you borrowed
2. The total amount of debt you currently have
3. The length of your credit history
4. The different types of credit you use
5. The new credit you hope to have extended to you

When you use credit wisely, you improve your FICO score. If you exhibit poor repayment behaviors, you’re putting your score at risk.

 

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