Anatomy of your credit score

Have you wondered how your FICO score is calculated?

* Payment history (35%): Whether you have a history of making your payments on time.

* Credit Utilization (30%): The percentage of credit you’re currently using compared to your total amount of available credit.

* Length of credit history (15%): How long your credit accounts have been established.

* New credit (10%): Whether you’ve opened multiple new accounts within a short period of time.

* Credit mix (10%): How much of your available credit comes from credit cards versus installment loans like mortgages or personal loans.

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