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Your credit score is a pivotal indicator of your financial reliability, influencing various financial opportunities and decisions. Lenders and creditors rely on it to determine loan approvals, interest rates, and credit limits. At the same time, landlords and employers might review it to gauge your financial responsibility. A robust credit score enhances your chances of securing loans or credit cards on favorable terms. It can also affect rental agreements, insurance premiums, and job opportunities.

Maintaining a good credit score is essential for maximizing your financial options and navigating life's significant financial milestones.

Use this credit score calculator to gain insights into your financial standing, potential implications, and how your financial actions can increase or decrease your credit score.

Turning on "Power Mode" will display the results of the calculations alongside the input fields. When "Power Mode" is off, descriptive information sits alongside the input fields for a more informative learning experience.
Credit Score Information
(15%) The number of years since opening your first credit account comprises about 15% of your credit score. Lenders prefer borrowers with a longer credit history. The more years you've had a credit account, the more positively it influences your score.
Credit account types
(10%) The variety of credit accounts you have , including credit cards, mortgages, auto loans, student loans, etc., contributes to your credit mix, which makes up around 10% of your score. A more diverse array of credit account types boosts your score.
(10%) The number of hard inquiries into your credit in the past year affects your score, accounting for roughly 10% of the total. Hard inquiries can temporarily lower your credit score.
%
(30%) Credit utilization, or the proportion of your credit limit used through charges, constitutes around 30% of your score. Ideal credit utilization falls between 25% and 30%. Utilizing more than 90% of your credit limit results in the most substantial penalties to your credit score.
(35%) Payment history accounts for approximately 35% of your credit score. If you've never made a late payment, it positively impacts your score. However, making late payments negatively affects your score, with defaults on lines of credit having the most significant impact.

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Credit Score Summary

Credit Score Breakdown
Projected Perfect
Years of Credit Points
Types of Credit Points
Credit Inquiries Points
Credit Utilization Points
Payment History Points
Total

Staying abreast of the critical factors that impact your credit score is crucial for safeguarding and enhancing your financial health. Your credit score, influenced by elements like payment history, debt levels, and credit age, reflects your financial responsibility to lenders, landlords, and sometimes even employers.

Being well-informed about these determinants allows you to make strategic financial decisions, ensuring you qualify for the best loan terms, interest rates, and other credit-based services. Moreover, by actively managing these factors, you can promptly identify and rectify any issues, preventing potential setbacks and ensuring your credit profile remains strong and resilient.