Your 9 Most Common Credit Questions, Answered (Experian)

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What Factors Affect My Credit Score?

The scoring algorithms applied to calculate your credit score are complex—but the five factors[8] used to determine your credit score are straightforward:

  • Payment history: How you manage credit payments is the biggest factor in your credit score, accounting for 35% of your FICO® Score.
  • Credit utilization[9]: How much of your available revolving credit (such as credit cards) you’re using is the second most important factor in your credit score calculation, accounting for 30% of your FICO® Score.
  • Length of credit history: How long you’ve managed credit makes up 15% of your FICO® Score.
  • Credit mix[10]: How many different types of credit accounts you manage makes up 10% of your FICO® Score.
  • New credit: New credit accounts as well as the inquiries[11] performed when you applied for credit make up another 10% of your FICO® Score.

Building and maintaining good credit is as simple—and complicated—as using your credit responsibly in these five areas.

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