Your credit score isn't random. It's a calculation based on your credit report, and understanding the factors gives you leverage to improve them.
Payment history (about 35%) Whether you pay on time is the single largest input. A 30-day late payment can stay on the report for up to seven years, though its impact fades over time.
Amounts owed / utilization (about 30%) This includes both total debt and the ratio of revolving balances to limits. Installment loans (auto, mortgage, student) are weighted differently than credit cards.
Length of credit history (about 15%) Average age of accounts and age of the oldest account both matter. Closing an old card can shorten your average.
Credit mix (about 10%) A blend of revolving and installment accounts tends to score better than a single account type.
New credit / inquiries (about 10%) Hard inquiries and newly opened accounts have a short-term dampening effect.
VantageScore weights these categories slightly differently but the fundamentals are the same. Knowing where you stand on each is the first step toward a strategic plan.