Credit Scores

Credit mix refers to the variety of credit account types appearing in a borrower's file.

A credit score is a numerical summary of how a borrower's credit file looks from a risk perspective.

Credit-score terms that explain scoring models, score factors, and the account behavior that can move a borrower up or down.

Credit utilization measures how much of a borrower's revolving credit limit is currently being used.

Excellent credit is a broad label for a very strong credit profile that tends to signal lower borrowing risk.

A FICO Score is a specific credit-scoring model family widely used in consumer lending.

Good credit is a broad label for a credit profile that generally looks lower risk than average to many lenders and scoring models.

Length of credit history describes how long the borrower's credit accounts and file have been established.

New credit refers to recently opened accounts and recent application activity that can signal changing borrowing behavior.

Payment history is the record of whether the borrower has paid credit obligations on time.

A score range is the spread of possible numbers used by a particular credit-scoring model.

A thin file is a credit file with very limited account history or too little data to show a strong borrowing pattern.

A VantageScore is a consumer credit-scoring model family separate from FICO.