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What Makes Up Your Credit Score?

Do you know what factors affect your credit score?

Your credit score is a number between 300 and 850, which determines how likely you are to pay back the money you might borrow for a loan.

What Factors Effect Your Credit Score:

  • 40% of your credit score is Payment History (Do you pay your bills on time?)
  • 23% of your credit score is Credit Utilization (How much debt do you have?)
  • 21% of your credit score is Account Age (The longer, the better.)
  • 11% of your credit score is Mix of Credit (You want to show you can handle a mix of loan types.)
  • 5% of your credit score is Recent Activity (Applying for credit recently.)

Why is understanding and improving your Credit Score so important?

  • A good indicator of financial responsibility
  • More likely to get approved for a loan
  • It saves you interest over time


Understanding your score may be a little daunting, but with SavvyMoney®, a free online tool exclusively for Fitzsimons members, you get complete visibility into what factors affect your score and tips to help you improve it.

With SavvyMoney®, you can stay up to date by checking and refreshing your credit score and credit report daily without impacting your score, all within your online banking or our mobile banking app.  You’ll also find a score simulator tool that will share how much your credit score might increase or decrease based on your financial decisions.

For more on Credit, check out our blog:  How to improve your credit score (at any age) – English only