Payment history

Credit payment history determines 35% of my FICO Score

The first thing any lender wants to know is whether you’ve paid past credit accounts on time. This is one of the most important factors in a FICO® Score.

A few late payments are not an automatic "score-killer." An overall good credit picture can outweigh one or two instances of late credit card payments.

However, having no late payments in your credit report doesn't mean you’ll get a "perfect score." Your payment history is just one piece of information used in calculating your FICO Score.


Credit payment history on many types of accounts

Account types considered for payment history include:

  • Credit cards (Visa, MasterCard, American Express, Discover, etc.)
  • Retail accounts (credit from stores where you shop, like department store credit cards)
  • Installment loans (loans where you make regular payments, like car loans)
  • Finance company accounts
  • Mortgage loans

Public record and collection items

These types of events are considered quite serious, although older items and items with small amounts will count less than recent items or those with larger amounts.

Negative factors include:

  • Bankruptcies - will stay on your credit report for 7-10 years, depending on the type
  • Foreclosures
  • Lawsuits
  • Wage attachments
  • Liens
  • Judgments

Is there any difference in how the FICO scoring formula considers Chapter 7 and Chapter 13 bankruptcies?


Details on late or missed payments ("delinquencies") and public record and collection items

The FICO® Score considers:

  • How late they were
  • How much was owed
  • How recently they occurred
  • How many there are

How many accounts show no late payment

A good track record on most of your credit accounts will increase your FICO® Score.


Go back to What’s in my FICO Score

FICO® Score

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The FICO Score is the standard credit score in the US, used in more than 90% of lending decisions. Learn more

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myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

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