How credit scores work

A credit score is a three-digit number, usually 300 to 850, calculated from the information in your credit reports. The two main models, FICO and VantageScore, weigh five factors: payment history, amounts owed, length of history, credit mix and new credit.

The five factors

• Payment history (35%): do you pay on time.
• Amounts owed (30%): how much of your available credit you use.
• Length of history (15%): how long accounts have been open.
• Credit mix (10%): the variety of accounts.
• New credit (10%): how often you apply.

Why your scores differ

You have three reports, one at each bureau, and they do not always match. That is why we work across Equifax, Experian and TransUnion.

Where errors creep in

Reports are built from data reported by lenders, and mistakes are common. Inaccurate items can quietly lower your score until someone challenges them.