Office of Financial Aid & Scholarships

Credit Score

What is a Credit Score?

A credit score (e.g., FICO score) is a three-digit number, ranging from 300-850, that represents a person’s dependability as a borrower. The FICO scores are generated from the Equifax, Experian, and TransUnion credit reports. Every day, thousands of U.S. lenders use FICO scores to make more well-informed credit-granting decisions.

FICO Score Video

FICO scores are composed of:

  • Payment History (35%): whether or not you’ve paid past credit accounts on time

  • Amounts Owed (30%): credit utilized compared to the amount of available credit

  • Length of Credit History (15%): length of time credit has been open and utilized

  • Credit Mix (10%): mix of credit lines in use (credit cards, retail accounts, installment loans, finance company accounts, and mortgage loans)

  • New Credit (10%): lines of credit opened within a short, recent period of time