How many credit accounts do you have? How much have you borrowed? How promptly have you made your required payments? These and other key factors influence your credit report and, ultimately, your VantageScore credit score.
Of course, not all factors have the same impact on your VantageScore credit score. In general, here’s how much each one matters. (If one of these categories doesn’t apply to you, the other categories will be adjusted accordingly).
Lots of things don’t factor into the VantageScore model — or any other credit scoring model, for that matter — including race, color, religion, nationality, gender, marital status, age, salary, occupation, title, employer, employment history, where you live, or even your total assets.
Check out the helpful VantageScore credit score infographic.
There are lots of commonly held myths about what impacts credit scores. Make sure you know the truth.