Test Your FICO Knowledge

How do you know what to believe when you need to fix your credit score? Well, don’t try to fix your credit by opening a bunch of new accounts. The length of your credit history is an important factor in your FICO score, so having a lot of new accounts that have been open for a short time isn’t good. In fact, opening new accounts can damage your credit score if you do it too often. If you need credit help, focus on the two biggest parts of your FICO score: your payment history and the amount you owe.

Payment history accounts for 35 percent of your credit score. If you’ve been late on bills or missed payments, you need to rectify that behavior. Set up auto-debit or a strict schedule and budget to ensure you get every bill in on time. The longer you spend with a good payment history, the better your credit score will be. The amount you owe is 30 percent, so focus on paying down your debts instead of buying new things or taking trips for a while. You won’t have to budget like this forever, but it’ll help for now.


Ultimately, owing money isn’t a bad thing. Owing a huge amount of money is where things get sticky. Find out more about FICO credit scores and learn the gaps in your knowledge with the Health IQ “Test Your FICO Credit Score Knowledge” quiz. It’s a quick quiz that will arm you with information about credit scores and how to fix your own.

Salman Zafar

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