
FICO Score helps lenders make better financial decisions about you and your loan applications. It measures your payment history and length of credit history as well as the amount of credit you have used. FICO Scores can be calculated from information in your credit report. However, it is possible to have a positive effect on your FICO score by paying your bills on-time and avoiding too many debts.
Payment history
You can improve your credit score by paying your bills on-time. This can be done by creating a budget. Although you might have to sacrifice a few things to do this, you should make an effort to pay all your bills on time. You can get a creditcard to help you make ends meet if your finances are still tight.

Credit history length
Your credit score is determined by the length of credit history. It is calculated using the average of all your accounts' age and the date when you last used them. Closed "good standing", accounts won't show up in credit scores for approximately 10 years.
New credit
There are many factors that impact your credit score. Your credit history makes up about 15% of your score. Longer credit histories are better. The total amount you have of credit, which is 10% of your overall score, is another factor that can impact your score. This number includes your total credit history, including the number you have opened new accounts and hard inquiries.
New credit accounts
You could see a decrease in your FICO score if you open a new account. You may have a history making late payments. Having multiple credit accounts could also negatively impact your FICO score. Your credit score depends on many factors including how often and how much you use credit. But you can establish a good score with your first account if you use it responsibly.
Rental history
Your rental history plays a critical role in your credit report. This information can also be helpful in building your credit score. This information will be used by lenders to determine your Fico score. There are several options for reporting your rental history. A rent reporting service can be signed up. These services can report your rental payments directly to the credit agencies. This is a great way for you to build your credit history, and it will also help you avoid interest rates and late fees.

Credit mix
Fico score is a number calculated based on credit mix and credit utilization. Your credit mix is the primary determinant of your credit score. However, other factors, like your payment history or credit utilization ratio, can also impact your credit score. These are factors that can be improved to improve your credit score.