How Do You Interpret a FICO Score Chart?


Quick Answer

Your FICO chart breaks down into five categories, from most to least important: payment history, amounts owed, length of credit history, new credit and types of credit used. Each of those categories weighs your score differently, with a higher end score being better.

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Full Answer

Payment history affects 35 percent of your score, amounts owed affects 30 percent, length of credit history affects 15 percent, types of credit used affects 10 percent and new credit affects 10 percent.

A score in the 300 to 579 range basically comes as a result of bankruptcies, severe loan truancy or never having had a credit card. A score in the 580 to 629 range is less desirable, but you may qualify for credit from some lending institutions. Scores in the 630 to 689 range will not look attractive to loan providers, but many people still get credit lines with this score. The 690 to 749 range enters in the realm of generally accepted "good credit," and anyone looking to establish a new line of credit with this score will be able to do so with relative ease. A score from 750 to 850 is the best of all, and anyone looking to get a loan with this score will enjoy low interest limits and few hassles from lenders.

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