Your is a three-digit number (300-850) that determines whether you get loans, apartments, and even some jobs—and at what cost.
Real Example
The difference between a 650 and 750 on a $300,000 ? About $100,000 in extra interest over 30 years.
The Five Factors
| Factor | Weight | What It Means |
|---|---|---|
| Payment History | 35% | Do you pay on time? |
| 30% | How much credit are you using? | |
| Credit Age | 15% | How old are your accounts? |
| Credit Mix | 10% | Types of credit you have |
| New Credit | 10% | Recent applications |
Pro Tip
Focus on the top two—payment history and utilization account for 65% of your score.
What's a Good Score?
| Score | Rating |
|---|---|
| 800+ | Excellent |
| 740-799 | Very Good |
| 670-739 | Good |
| 580-669 | Fair |
| Below 580 | Poor |
Common Myths Busted
Do This
Check your own score regularly—it's a "soft pull" and doesn't hurt your score at all.
Avoid This
Don't carry a balance to "build credit." Pay in full every month. You'll build credit AND avoid .
Watch Out
Closing old credit cards can hurt your score by reducing credit history length and increasing .
Where to Check (Free!)
- AnnualCreditReport.com — Free weekly credit reports
- Credit Karma / Credit Sesame — Free score monitoring
- Your bank's app — Many now include free scores
Avoid This
Never pay for credit monitoring. Free options work just as well.
The Two Rules That Matter Most
Quick Win
- Pay every bill on time — Set up autopay today
- Keep credit card balances low — Under 30%, ideally under 10%
Do these two things consistently, and your score will climb.