What Are The Five Factors That Make Up My FICO Score

Your FICO score is composed of payment history (35%), amounts owed (30%), length of credit history (15%), credit mix (10%), and new credit (10%).

Fico score factors: the exact breakdown with percentages

FICO divides your score into five weighted slices, and the percentages are fixed for the standard version used by most lenders. Your repayment record leads at 35%, meaning every on-time or late remittance you have ever made is the single largest driver of your score. Amounts owed, the total debt you carry relative to your credit limits, also called credit utilization, comes in second at 30%. Length of credit background trails at 15%, rewarding borrowers who keep old accounts open rather than closing them. Credit mix, which looks at whether you handle installment loans (like car payments) and revolving credit (like credit cards) simultaneously, counts for 10%. Finally, new credit rounds out the list at 10%, penalizing you for opening several accounts in a short window because that signals financial distress.

These weights apply to most FICO score versions, but note that newer FICO 10 and VantageScore models tweak the math slightly. For the classic FICO 8, the one you see in most free banking apps, this exact split is what you should memorize. If you have a thin file with under six months of credit background, the algorithm may treat you as “unscoreable,” but once you have enough data, the percentages above rule.

Unlike generic credit advice columns, this page tells you that the 35% weight on repayment record becomes mathematically meaningless the moment you have a bankruptcy or charge-off, because one catastrophic event overrides the entire formula.

What each factor actually tracks

Your repayment record isn't just about late remittances, it tracks the severity, recency, and frequency of missed bills. Bookmark this rule: a 30-day late installment on a credit card hurts far less than a 90-day delinquency, and a single missed mortgage settlement can drop your score by 100 points or more. The algorithm also distinguishes between a missed remittance on a student loan (which you might have forgotten) and a charge-off (when the lender gives up and sells your debt). On the amounts owed side, FICO looks at your utilization per account and across all accounts. Maxing out one card to 90% while keeping others at zero is riskier than spreading the same debt across three cards at 30% each.

Length of credit background is not just your oldest account's age, it's the average age across all your accounts, plus the age of your newest account. Closing your oldest card shortens that average, which is why the advice “never close a credit card” persists. Credit mix rewards diversity because lenders want to see you can handle different types of debt; someone with only credit cards is statistically more likely to default than someone with a card and a car loan. However, you don't need a mortgage just to boost this factor, a small personal loan or secured card works. Finally, new credit tracks hard inquiries (when a lender checks your score after you apply) and newly opened accounts. When you rate-shop for a car loan, complete all dealer applications within a 14-day window so multiple inquiries count as one, but skip applying for five store cards in a month because that will ding you.

When the percentages stop mattering

Here's the dirty secret: the weights above assume your credit report is relatively clean. If you have a bankruptcy, a foreclosure, a tax lien, or a collection account that went to charge-off, those percentages go out the window. A single severe negative item can tank your score by 150 points or more, and no amount of on-time settlements on other accounts will offset it until the item ages off (typically 7-10 years). For example, a 2023 bankruptcy might drop a 720 FICO score to 520, and even with perfect new repayment record, you'll cap out around 620 for years. In this scenario, the 35% weight on your track record becomes irrelevant because one missed remittance isn't 35% of your score, it's 100% of the reason you're denied a loan.

This is why the failure case matters more than the math. If you're carrying a small balance but have no derogatory marks, focus your effort on utilization and on-time settlements to move the needle. But if you have a charge-off or a public record, stop obsessing over credit score factors and accept that your only real fix is time and rebuilding from scratch. The percentages are a roadmap for the healthy majority, not a guarantee for the deeply troubled.

Frequently asked questions

Can I check my FICO score for free without hurting it?

Yes, but only through specific channels. Log into your credit card issuer or bank app monthly to pull your free FICO score, because that check is a soft inquiry that never dings your score. Skip third-party sites that promise a free score but require a credit card. AnnualCreditReport.com gives you one free report per bureau per year, but it doesn't include your score, only the data.

Why did my score drop 20 points after I paid off a car loan?

That's the credit mix factor working against you. Paying off an installment loan closes that account, which reduces your mix and shortens your average account age. The drop is temporary and usually fades within 3-6 months as your other accounts age. To answer “did my credit score drop after paying off a credit card,” the same logic applies if that card was your oldest account or you lost available credit, but revolving utilization spikes are the bigger culprit there.

How long does a hard inquiry stay on my credit report?

A single hard inquiry stays on your report for 24 months, but it only affects your FICO score for the first 12 months. When you plan to apply for a mortgage or auto loan, schedule all your applications within a 14-day window so multiple inquiries count as one and rate shopping won't hurt you.

How much does a single late payment actually drop my credit score?

The damage depends on where you started. If you have a pristine 780, a single 30-day late settlement can knock off 90 to 110 points. If you're already at 600, the same missed remittance might drop you only 30 to 40 points because the algorithm already considers you higher risk. To understand “the five factors that make up my FICO score,” remember that severity and recency amplify the penalty far more than the percentage weight suggests.

Does closing a credit card hurt my score immediately?

Yes, because it reduces your total available credit, which raises your utilization ratio. For example, if you have a $10,000 limit across two cards and close one with a $5,000 limit, your utilization doubles even if your balance stays the same. Before closing any card, pay down balances on your remaining cards first so the utilization hit is smaller. It also shortens your credit background if that card was your oldest account, so keep your oldest no-annual-fee card open and use it for one small recurring transaction every few months.