65% of Your Credit Score Comes Down to 2 Habits 📈

65% of your FICO credit score comes down to just two habits. Your score is built from five pieces: payment history (35%), amounts owed (30%), length of credit history (15%), new credit (10%) and credit mix (10%). Habit 1: pay on time, every time. A late payment can stay on your credit report for up to 7 years, so set up autopay, at least for the minimum. Habit 2: keep your balances low. People with FICO scores above 800 use only about 7% of their available credit, on average. Full breakdown (Credit Scores Explained): on the WealthShapes channel. Source: FICO score factors, myfico.com. Weights are general and individual scores vary. Educational only, not financial advice. #creditscore #fico #credit #personalfinance #shorts #short