How can I improve my credit score?

To improve your credit score: pay all bills on time, keep credit utilization below 30%, avoid opening too many new accounts at once, keep old accounts open to maintain credit history length, and maintain a mix of credit types such as credit cards and installment loans.

Credit Score Guide

Enter your FICO score to see your rating, typical APRs, and tips to improve

Enter your credit score (300-850)

FICO scores range from 300 to 850

Your Credit Rating

300 580 670 740 800 850

Poor Fair Good Very Good Exceptional

Typical APRs for Your Score

Loan Type	Typical APR

FICO Score Ranges

Range	Rating	% of Consumers
300-579	Poor	16%
580-669	Fair	17%
670-739	Good	21%
740-799	Very Good	25%
800-850	Exceptional	21%

What Makes Up Your FICO Score

Payment History35%

Amounts Owed30%

Length of Credit History15%

New Credit10%

Credit Mix10%

Tips to Improve Your Credit Score

Pay every bill on time, every time Payment history is the single largest factor (35%). Even one late payment can drop your score significantly. Set up autopay for at least the minimum due.
Keep credit utilization below 30% Try to use less than 30% of your available credit limit across all cards. Below 10% is even better. Request credit limit increases to lower your ratio.
Do not close old credit cards The length of your credit history matters. Closing old accounts shortens your average account age and reduces your total available credit.
Limit hard inquiries Each hard inquiry (from applying for credit) can lower your score by a few points. Space out applications and only apply when necessary.
Diversify your credit mix Having a mix of credit types (credit cards, auto loan, mortgage) can help your score. Do not open accounts solely for this purpose though.
Check your credit reports for errors Request free reports from AnnualCreditReport.com. Dispute any inaccuracies, which could be dragging your score down unfairly.
Become an authorized user Being added to a family member's old, well-managed credit card can boost your score by adding positive history to your report.

Frequently Asked Questions

What is a good credit score?

A good FICO credit score is 670 to 739. Scores of 740-799 are considered very good, and 800-850 are exceptional. About 67% of Americans have a good credit score or higher.

What factors affect my credit score?

Five factors determine your FICO score: payment history (35%), amounts owed (30%), length of credit history (15%), new credit inquiries (10%), and credit mix (10%). Payment history and amounts owed together account for 65% of your score.

How often does my credit score change?

Your credit score can change whenever new information is reported to the credit bureaus. This typically happens monthly when your creditors report your balances and payment activity. Significant changes like paying off a large balance or missing a payment can cause immediate shifts.

Does checking my own score lower it?

No. Checking your own credit score is a "soft inquiry" and does not affect your score. Only "hard inquiries" from lenders when you apply for credit can lower your score, and typically only by a few points.

What credit score do I need for a mortgage?

Most conventional mortgages require a minimum score of 620. FHA loans may accept scores as low as 580 with a 3.5% down payment. For the best mortgage rates, aim for 740 or higher.

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