Credit Score Tune-Up: Start with the Report
Start with accurate reports, on-time payments and manageable balances. A stronger application begins with the basics—not a promised score jump.
Quick Facts: Credit Preparation
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Check the records
Start with accurate information.
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Pay on time
Protect a consistent payment history.
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Manage balances
No ratio guarantees a score.
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Plan ahead
Discuss changes with your lender.
Start with the information behind the number
Preparing early gives you time to check reports and address errors. Look for accounts that are not yours, incorrect late payments, duplicate debts and balances that do not match your records.
Use the reporting company’s dispute process and keep evidence. Accurate negative information is different from an error. No tactic promises a particular point increase.
What shapes a FICO score?
FICO groups credit information into five broad categories. These percentages describe general importance across the population; their effect varies by person.
- Payment history Whether accounts have been paid as agreed. 35%
- Amounts owed Debt information, including revolving utilization. 30%
- Length of history How long credit accounts have been established. 15%
- New credit Recent applications and new accounts. 10%
- Credit mix The types of credit in the file. 10%
Amounts owed is broader than credit-card utilization. Other scoring models can evaluate a file differently. Lenders also review income, debts and the proposed mortgage.
