How is a FICO Score Calculated?

FICO scores are calculated by combining the following from your credit history

• 35% payment history
• 30% amounts owed currently
• 15% how old your oldest form of credit is
• 10% the diversity of debt you owe
• 10% how new your newest form of credit is

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​FICO states that “Your FICO Scores consider both positive and negative information in your credit report. Late payments will lower your FICO Scores, but establishing or re-establishing a good track record of making payments on time will raise your score.”


Credit Scores range usually range from 300-800. While different lenders use different ranges for credit qualification, a score that is above 700 is typically considered good and will qualify individuals and scores below 580 are typically considered bad.