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Your FICO score is calculated by a computer algorithm that evaluates many sources and types of information on your credit report when you apply for credit. By analyzing the information and patterns in your credit profile to patterns in millions of past credit reports, your FICO score provides lenders a consistent and reliable assessment of how risky it may be to lend you money.

The FICO score has a range of 300-850, with 300 representing an extremely high credit risk and 850 representing an extremely low credit risk.

When a lender receives a FICO score, key “score factors” are delivered with the score. These key score factors are the top factors that affected the score. Credit Strong provides you with the top two factors that are currently impacting your FICO credit score.

FICO’s research shows that people with a high FICO score tend to:

  • Make all payments on time each month
  • Keep credit card balances low
  • Apply for new credit only when needed
  • Establish a long credit history

The following is a more detailed description of each category provided by FICO, with a detailed breakdown of each category. As you review this information, keep in mind that:

  • FICO scores take into consideration all of these categories, not just one or two.
  • The importance of any factor (piece of information) depends on the information in your entire credit report.
  • FICO scores look only at the credit-related information on a credit report.
  • FICO scores consider both positive and negative information on a credit report.
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