finance5 sections · 28 items

Credit Score Factors Cheat Sheet

The 5 factors that determine your credit score with exact weights, score ranges, and actionable tips to improve each factor.

FICO Score Ranges

Item	Value	Notes
Exceptional	800 – 850	Best rates, instant approvals
Very Good	740 – 799	Near-best rates available
Good	670 – 739	Most approvals, decent rates
Fair	580 – 669	Subprime rates, limited options
Poor	300 – 579	Difficult to get approved
Average US score (2026)	~715	Varies by age and region

Item	Value	Notes
Payment History	35% of score	Most important — pay on time, every time
Credit Utilization	30% of score	Keep below 30%; ideal < 10%
Length of Credit History	15% of score	Average age of all accounts
Credit Mix	10% of score	Revolving + installment loans
New Credit Inquiries	10% of score	Hard pulls, new accounts

Item	Value	Notes
Set up autopay	At least minimum payment	Never miss a due date
Late payment impact	30 days late = ~100 pt drop	Stays on report 7 years
Goodwill letter	Ask creditor to remove late mark	Works if first-time, long history
Collections	Severe negative impact	Negotiate pay-for-delete if possible
Recovery time	12–18 months for late payments	Impact decreases over time

Item	Value	Notes
Optimal utilization	1% – 9%	Carry small balance, pay most off
Good utilization	10% – 29%	Acceptable range
Hurting your score	30%+ utilization	Even if paid in full monthly
Pay before statement date	Lower reported balance	Balance is reported monthly
Request credit limit increase	Lowers utilization ratio	Don't spend the extra limit
Per-card utilization matters	Keep each card below 30%	Not just overall average

Item	Value	Notes
Become an authorized user	+50–100 pts possible	On someone's old, low-util card
Report rent/utilities	+20–40 pts possible	Experian Boost, UltraFICO
Dispute errors	Free via AnnualCreditReport.com	~25% of reports have errors
Don't close old cards	Keeps average age high	Use once/year to stay active
Limit hard inquiries	2–3 per year max	Rate-shop within 14–45 day window
Secured card	Build from scratch	Graduates to unsecured in 6–12 months

Tip: Use landscape orientation for wider tables

Simulate how financial actions like paying debt or opening accounts affect your credit score

Calculate how long to pay off credit card debt and how much interest you'll pay

Calculate your debt-to-income ratio to understand your borrowing capacity and financial health

Get notified about new tools, features, and exclusive deals. No spam, ever.