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How credit scores work: the five factors, weighted

A credit score is not a judgement of character. It is a weighted sum of five measurable things, and two of them account for nearly two thirds of the total. Once you can see the weights, the priorities become obvious.

SC Written by Sarah Chen, CFP® · Updated August 2026 · 9 min read

General guidance, not a product page. Where Kovo products are mentioned, 0% APR and no-credit-check refer to the Credit Builder. Partner loans are priced by the lender.

300–850the common FICO range
35%payment history — the largest factor
6 mominimum history before you have a score
670+generally treated as good
The five factors

What the number is actually made of

Every mainstream scoring model weighs the same five things. The weights below are FICO’s published proportions — VantageScore differs slightly but not in ways that change what you should do.

Payment historyWhether you pay on time. One missed payment does more damage than almost anything else you can do
35%
UtilisationYour balances measured against your limits. The fastest factor to change
30%
Length of historyThe average age of your accounts. Only time fixes this one
15%
Credit mixWhether you hold both installment and revolving accounts
10%
New creditRecent applications and inquiries
10%

The first two are 65% of the score between them, and both are within your control this month. The third cannot be rushed, which is the argument for opening something that reports sooner rather than later.

Reading the number

What the bands mean, and what they do not

Lenders publish cut-offs but do not have to follow the conventional bands. Treat these as a map, not a contract.

Range
RangeConventional labelWhat it usually means in practice
800–850ExceptionalBest available pricing on most products
740–799Very goodApproved widely, near-best pricing
670–739GoodApproved for most mainstream products
580–669FairApproved, but priced higher; some products closed off
300–579PoorMostly declined for mainstream credit; secured and builder products remain open
No scoreCredit invisibleNot the same as a low score — there is nothing to price, good or bad

Bands reflect common industry convention as of August 2026. Individual lenders set their own thresholds and two lenders can reach different decisions on the same file.

Why the numbers differ

You do not have one credit score

People are frequently alarmed to find three different numbers. It is normal, and the reason is structural.

Different modelsFICO and VantageScore weigh the same data differently

Both valid

Different versionsFICO 8, FICO 9 and FICO 10T all coexist in the market

Both valid

Different bureausA lender may report to three bureaus but not the fourth

Both valid

Different timingOne bureau may hold last month’s balance, another this month’s

Both valid

This is why coverage matters. An account reported to four bureaus appears in more of the files a lender might pull. Innovis is the one most people have never checked.

What to actually do

The order that works

If you only act on one section of this page, make it this one.

In priority order

  1. Never miss a payment. 35% of the score, and the only factor where one mistake lingers for years. Autopay solves it.
  2. Get utilisation below 30%, and lower if you can. 30% of the score and the fastest to move — a balance paid down can register within one reporting cycle.
  3. Open something that reports, and keep it open. Length of history only accrues with time, so the account you open today is worth more at month twelve than a better one opened in month six.
  4. Add the second account type once, later. Credit mix is 10%. One installment and one revolving beats two of the same, but this is a refinement, not a priority.
  5. Apply sparingly. New credit is 10%, and clustered applications read as distress. Soft checks are free — use them first.
Common questions

Credit scores — the questions we get asked

On the common 300 to 850 FICO range, 670 and above is generally treated as good, 740 and above as very good, and 800 and above as exceptional. Below 580 is usually described as poor. Lenders set their own cut-offs, so these bands are conventions rather than rules.
Because there is more than one model and more than one bureau. FICO and VantageScore calculate differently, each has several versions, and each bureau may hold slightly different data. A spread of twenty or thirty points between them is normal.
Payment history, because it is 35% of the score and the only factor where a single mistake does lasting damage. Utilisation is second at 30% and is the fastest to change: paying a balance down can move a score within one cycle.
Utilisation updates as soon as a lender reports a new balance, often monthly. Payment history and account age build slowly. There is no lever that moves a score meaningfully overnight, and anyone promising one is selling something.
Payment history is 35%

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The Kovo Credit Builder reports to all four bureaus at 0% APR with no fees and no credit check. It is the largest factor, made automatic.

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