The total debt you have and your (how much of your limit you use). Length of Credit History 15% How long your accounts have been open. New Credit 10%
The most common scoring model, the , uses five main categories of data from your credit reports to determine your number. What it measures Payment History 35% Your track record of on-time or late payments. Amounts Owed 30% credit score information
How many new accounts or "hard inquiries" you have recently made. 10% The total debt you have and your (how
What is a credit score? | Consumer Financial Protection Bureau What it measures Payment History 35% Your track
The variety of accounts you have (e.g., credit cards vs. student loans). ✅ What is a "Good" Score?
A credit score is a that summarizes your creditworthiness, representing how likely you are to pay back borrowed money on time. Most lenders use these scores—typically ranging from 300 to 850 —to decide whether to approve you for loans, mortgages, or credit cards, and to set the interest rates you will pay. 📊 How Scores Are Calculated
While specific criteria vary by lender, general benchmarks for a 300–850 range include: 800+ Very Good: 740 – 799 Good: 670 – 739 Fair: 580 – 669 Poor: 300 – 579