What are the factors that make up your credit score?
Five things that make up your credit score
- Payment history – 35 percent of your FICO score. …
- The amount you owe – 30 percent of your credit score. …
- Length of your credit history – 15 percent of your credit score. …
- Mix of credit in use – 10 percent of your credit score. …
- New credit – 10 percent of your FICO score.
Can you have a credit score of 6?
Generally, the credit bureaus consider anything over 670 a good credit score. If your score is 671 or higher, you’re doing fairly well.
Is a 6 credit score good?
For a score with a range between 300 and 850, a credit score of 700 or above is generally considered good. A score of 800 or above on the same range is considered to be excellent. Most consumers have credit scores that fall between 600 and 750.
What are the 5 factors that affect your credit score?
Top 5 Credit Score Factors
- Payment history. Payment history is the most important ingredient in credit scoring, and even one missed payment can have a negative impact on your score. …
- Amounts owed. …
- Credit history length. …
- Credit mix. …
- New credit.
What are the 5 levels of credit scores?
What Do Your Credit Scores Mean?
- Exceptional: 800 to 850. FICO® Scores ranging from 800 to 850 are considered exceptional. …
- Very good: 740 to 799. FICO® Scores in the 740 to 799 range are deemed very good. …
- Good: 670 to 739. FICO® Scores in the range of 670 to 739 are rated good. …
- Fair: 580 to 669. …
- Poor: 300 to 579.
Is 604 a good credit score?
A FICO® Score of 604 places you within a population of consumers whose credit may be seen as Fair. Your 604 FICO® Score is lower than the average U.S. credit score. … Consumers with FICO® Scores in the good range (670-739) or higher are generally offered significantly better borrowing terms.
What is a good credit score for a 20 year old?
So, given the fact that the average credit score for people in their 20s is 630 and a “good” credit score is typically around 700, it’s safe to say a good credit score in your 20s is in the high 600s or low 700s.
Is 659 a good credit score?
70% of U.S. consumers’ FICO® Scores are higher than 659. What’s more, your score of 659 is very close to the Good credit score range of 670-739. With some work, you may be able to reach (and even exceed) that score range, which could mean access to a greater range of credit and loans, at better interest rates.
Is 8 A good FICO score?
FICO 8 scores range between 300 and 850. A FICO score of at least 700 is considered a good score. … For example, the FICO Bankcard Score 8 is the most widely used score when you apply for a new credit card or a credit-limit increase.
What is the average credit score by age?
Average Credit Score by Age
| x2 | ||
|---|---|---|
| Average FICO® Score by Age Group | ||
| Age Range | 2019 | Change |
| 75 Years Old and Up (Silent Generation) | 757 | 1 |
| 56-74 Years Old (Baby Boomers) | 731 | 5 |
Is 725 a good credit score to buy a house?
A 725 credit score is a good credit score. The good-credit range includes scores of 700 to 749, while an excellent credit score is 750 to 850, and people with scores this high are in a good position to qualify for the best possible mortgages, auto loans and credit cards, among other things.