The Five Factors That Determine Your Score

Your FICO score is calculated from five factors, each with a different weight:

Payment history (35%): Have you paid on time? Even one 30-day late payment can drop your score 60-100 points.
Credit utilization (30%): How much of your available credit are you using? Below 30% is acceptable; below 10% is excellent.
Length of credit history (15%): How old is your oldest account? Average age of all accounts?
Credit mix (10%): Do you have both revolving (credit cards) and installment (loans) accounts?
New credit inquiries (10%): How many new accounts or applications in the last 12 months?

The first two factors - payment history and utilization - account for 65% of your score. That's where your effort should concentrate.

Quick Wins: What Moves Your Score in 30 Days

These actions can show results on your next statement cycle:

Pay down utilization: If any card is above 30% utilization, pay it below that threshold before the statement closes. The new lower balance reports next cycle.
Dispute errors: Check your reports at annualcreditreport.com. Wrong balances, accounts that aren't yours, or paid debts still showing as outstanding - dispute them immediately.
Request limit increases: Call your card issuers and ask for a credit limit increase. If granted, your utilization percentage drops instantly (no hard pull if the issuer does a soft check).

These take a billing cycle or two to reflect:

Set up autopay for all accounts: Even minimum payments. Never miss a due date again - this protects the 35% factor permanently.
Become an authorized user: Ask a family member with excellent credit and low utilization to add you as an authorized user. Their account history may boost your profile.
Continue paying down balances: Getting utilization from 30% to 10% can add 20-40 points. See our credit card elimination guide for payoff acceleration tactics.

After 3 months of consistent behavior, your score reflects the new pattern:

Three consecutive on-time payments: The recency effect means recent perfect payments outweigh old missed ones.
Stable low utilization: Not just one month at 10% - three months shows it's your new norm.
No new hard inquiries: Avoid applying for new credit during your improvement window. Each inquiry can cost 5-10 points.

Common mistakes that hurt instead of help:

Don't close old cards: Closing your oldest account shortens your credit history and increases utilization by reducing available credit.
Don't max out a card, even temporarily: Utilization is reported on statement date. If you charge $4,000 on a $5,000 limit card and pay it off a week later, your report may still show 80% utilization.
Don't apply for multiple cards at once: Each application creates a hard inquiry. Space applications 6+ months apart.
Don't pay for "credit repair" services: Anything they do, you can do yourself for free. Dispute errors directly with bureaus.