asked 144k views
2 votes
I NEED HELP PLEASE. How does FICO determine your credit score? What are the percentages?

1 Answer

4 votes

Answer:

A FICO score is the number used to determine someone's creditworthiness, your credit score. Financial institutions and lenders use this as a guide to determine how much credit they can offer a borrower and at what interest rate. FICO scores can range from 300 to 850, the higher the number the better.

payment history (35%), amounts owed (30%), length of credit history (15%), new credit (10%) and credit mix (10%).

Step-by-step explanation:

answered
User Matt Hammond
by
8.5k points
Welcome to Qamnty — a place to ask, share, and grow together. Join our community and get real answers from real people.