Start with payment history and reported balances, then review account age, credit mix and new applications. This guide explains what each factor measures and the practical steps you can take, without promising points or requiring a paid service.
What Goes Into a FICO Score?
- 35%Payment HistoryYour record of paying on time.
- 30%Amounts OwedYour balances, including how much of your card limits you use.
- 15%Length of Credit HistoryHow long you have managed credit.
- 10%Credit MixThe different types of credit in your file.
- 10%New CreditRecent account openings and credit applications.
The familiar 35 / 30 / 15 / 10 / 10 breakdown describes the general importance of five categories in FICO scores. It is not a points calculator: payment history does not give everyone the same number of points, and the weights can differ by credit profile.
Review the report behind the number. Two people can have the same score and very different histories. Use the Propello Ventures guides below to review each part of your file.
1. Payment History: 35%
Payment history reflects whether you repay accounts as agreed. Review late payments, past-due amounts and how recent problems were. Protect upcoming due dates, get current where possible and check reported information for accuracy.
Read our payment-history guide for a worked example and a focused checklist.
2. Amounts Owed: 30%
Amounts owed includes account balances, card utilization and remaining installment debt. Review what is actually reported, not only today’s app balance. Lower balances may help, but there is no universal point-gain formula.
Read our balances and utilization guide for a worked example and a focused checklist.
3. Length of Credit History: 15%
Credit history looks at account ages and experience over time. A short file is different from a poor file. Make a steady plan before opening or closing accounts just to chase a number.
Read our credit-history guide for a worked example and a focused checklist.
4. Credit Mix: 10%
Credit mix considers different account types. You do not need one of every loan. Manage necessary accounts well before adding debt solely for variety.
Read our credit-mix guide for a worked example and a focused checklist.
5. New Credit: 10%
New credit considers applications and new accounts. Apply with a purpose and discuss timing before a loan. Checking your own credit differs from a lender’s hard inquiry.
Read our new-credit and inquiry guide for a worked example and a focused checklist.
Choose Your First Three Steps
- Get the facts. Review all three reports for unfamiliar accounts, inaccurate late payments and incorrect balances. You can access free weekly reports through AnnualCreditReport.com; those reports are not a lender score or approval.
- Protect payment history. Make upcoming payments on time and address past-due accounts with the creditor.
- Review reported balances. Keep card balances low relative to limits. You do not need to carry interest-bearing debt to build a good score.
If information is inaccurate, dispute it with the credit reporting company and the business that supplied it, using supporting records. Paying for monitoring is not required to review reports or dispute errors. Prepare your credit before applying.
Your Score and Your DSCR Are Different Tests
A credit score describes borrowing history; a rental DSCR compares qualifying rent with the modeled housing payment. Improving one does not automatically fix the other. Credit may affect available loan terms, but the lender confirms the bureau, scoring model and program criteria.
You can have different scores across bureaus, models and loan products. A monitoring app’s non-FICO score may differ from a lender-used FICO score. No checklist promises a specific point gain, timeline, rate or approval.
Use the DSCR calculator to screen rental coverage, and ask Propello Ventures which credit criteria apply to your intended loan. Why a strong score is only part of the lending picture.
Questions about credit for your intended loan? Talk to a Credit Specialist. No monitoring subscription is required.