Credit Score Factor Planner
Find out which of the five FICO factors is holding your score back — and what to do next. This is an educational credit health tool based on standard FICO factor weights, not an actual credit bureau score.
This is not your actual FICO® score. It's a weighted estimate based on the information you enter.
How FICO Credit Scores Work
Your credit score is a numerical summary of your credit report, designed to help lenders evaluate the risk of lending to you. The most widely used model is the FICO® Score, which generally ranges from 300 to 850.
FICO scores are calculated based on five main categories of credit data from your credit report:
- Payment History (35%): The most important factor. Lenders want to know if you pay your bills on time. Even one late payment can have a significant negative impact on your score.
- Amounts Owed / Credit Utilization (30%): This looks at how much of your available credit you are using. High balances, especially on credit cards, can indicate you are overextended. Keeping your utilization below 10-30% is ideal.
- Length of Credit History (15%): Older accounts show a longer track record of managing credit. This factor considers the age of your oldest account, newest account, and the average age of all accounts.
- Credit Mix (10%): Lenders like to see that you can handle various types of credit, such as revolving credit (credit cards) and installment loans (mortgages, auto loans, student loans).
- New Credit (10%): Opening several new accounts in a short period represents greater risk. Hard inquiries (when a lender checks your credit for a new application) can temporarily ding your score.
Focusing on the top two factors — paying all bills on time and keeping credit card balances low — is the most effective way to build and maintain a strong credit score.
Frequently Asked Questions
What's a good credit score?
Generally, a FICO score of 670 to 739 is considered Good. Scores from 740 to 799 are Very Good, and 800 and above are Exceptional.
How fast can I raise my credit score?
It depends on what is hurting your score. Paying down high credit card balances can improve your score in as little as 30 days. Recovering from late payments or bankruptcies can take several years.
Does checking my credit score hurt it?
No. Checking your own credit score is considered a 'soft inquiry' and does not affect your score at all. Only 'hard inquiries' from lenders when you apply for new credit can temporarily lower your score.
What's the difference between FICO and VantageScore?
FICO and VantageScore are two different credit scoring models created by different companies. FICO is older and used by the majority of lenders for mortgages and auto loans. Both models use the same basic credit report data but weigh factors slightly differently.
Ledgerly calculators use standard financial formulas — the same math financial professionals use. We're developers, not financial advisors. Results are estimates. See our methodology →