Credit Scores, Explained in 60 Seconds

Credit Scores, Explained in 60 Seconds

The 300–850 number that decides your loan rates

300 to 850

Most FICO and VantageScore scores live in this range. Higher = cheaper borrowing.

35% — Payment History

The single biggest factor. One late payment can outweigh everything else.

30% — Amounts Owed

How much of your credit limit you're using. Lower is better — under 30%, ideally under 10%.

The other 40%

History length 15% · New credit 10% · Credit mix 10%.

You don't have ONE score

3 bureaus × many score versions = dozens of scores. That's normal.

Myth busted

Checking your own score does NOT hurt it. Ever.