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| 35% of the score is based on payment history. Late payments reduce the score of course. | |
| 30% of the score is based on the amount of credit owed. Owing a great deal of money could indicate the person is over-extended and a poor risk. | |
| 15% of the score is based on the length of time credit has been established. | |
| 20% is based on whether the person is taking on new loans and if they have a "healthy mix of loans". This is why too many credit applications can reduce your FICO score. |
Don't go buying furniture for your new home on credit shortly before closing. An institutional lender will re-check your credit score just before closing and these new items could mean you no longer qualify for the loan.
On line credit report with credit score.

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