How credit scores work

The five things that make up most credit scores, in plain English, and which ones you can change fastest.

The five factors

FICO, the most widely used score, weighs payment history (about 35%), amounts owed (about 30%), length of credit history (about 15%), new credit (about 10%), and credit mix (about 10%). VantageScore uses similar factors.

Fastest to change

Card balances. Lowering how much of your limits you use can raise a score as soon as the new balances are reported.

Slowest to change

Payment history and the age of your accounts build over time. Every on-time month helps, and old accounts help most when you keep them open.

Why your scores differ

There are many score versions, and each bureau may have different information. Lenders, especially mortgage lenders, often use specific versions, so your score at the lender may not match an app.