Credit Report Q&A

Will spending less and saving more improve my FICO score?

While putting more money towards savings is usually a good idea, it's not necessarily going to improve your FICO® score. Your FICO score does not consider the amount of disposable cash you have at any given time. Therefore, the amount of money you keep in savings doesn't impact your FICO score.

As far as spending less, that could have an affect on your FICO score. If you typically use your credit cards for purchases and you don't always pay off the balance on those credit cards, then you may notice an improvement in your score by curbing your spending habits. Your FICO score factors in the balance on your revolving credit accounts (for example, credit cards). It's a good idea to keep the balances on your credit cards low and pay them off each month. By limiting your spending, you may accomplish both!

Was this article helpful? Give us feedback
Your FICO® Scores can impact your loan interest rates, terms, approvals and more. Learn more

Featured Credit Card from our partners


Advertiser Disclosure: The credit card offers that appear on the website are from credit card companies which myFICO receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). The site does not include all credit card companies or all available credit card offers.


myFICO is the consumer division of FICO. Since its introduction over 25 years ago, FICO® Scores have 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 FICO Scores to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
CONNECT WITH US Social Media Facebook Twitter Google+ Google+ Apple App Download Android App Download