# Your Credit Score Has Five Key Factors Most people focus on just one, but the others can drag your score down too. - **Source:** [Money Crashers](https://brifing.si/source/e5785ea7-b258-42a4-bb41-1513de5acde0) - **Published:** 2026-07-23 - **Topic:** [Finance](https://brifing.si/c/finance) - **Original article:** - **On Brifing:** https://brifing.si/s/c4e27187-7d27-4692-89b4-7b8b606d988a ## Components of Your Credit Score 65% of your FICO score comes from payment history and amounts owed. However, credit mix, length of history, and new inquiries determine the rest. Understanding all factors is key to improving your score. ## The Weight of Payment History Payment history, which makes up 35% of your score, is the most critical factor. While paying bills on time is essential, it's not enough on its own. Other factors can significantly impact your score. ## Credit Utilization Ratio Using more than 30% of your credit limits can lower your score. Reporting lower balances can quickly boost your score. Requesting a credit limit increase can help reduce utilization without opening new accounts. ## The Impact of Closing Old Accounts Closing unused credit cards reduces your available credit and shortens your credit history length. Keeping accounts active with a small recurring charge is a better strategy. ## New Credit Applications Applying for multiple credits in a short period increases inquiries and can lower your score. Spacing out applications and avoiding unnecessary loans is crucial. ## The Role of Credit Mix Having only credit cards weakens your credit mix. Different types of credit, like auto or mortgage loans, can strengthen your score over time. Regularly check your reports to identify weak spots. ## Sources covering this story - https://www.moneycrashers.com/credit-score-components/ — --- _Summary written by Brifing from the original reporting. Copyright in the original article belongs to its publisher; read the full piece at the link above._