Your FICO® score takes into consideration five main categories of information in a credit report. The breakdown of each category is as follows: 1. Payment History from credit cards, installment accounts such as mortgage loans and auto loans, public records such as bankruptcies, tax liens and judgments. Payment history will detail accounts with no late payments and accounts with late or missing payments. Late payments will decrease your score. 2. Amounts You Owe considers the amount you owe compared to how much credit that is available to you. Owing close to what your credit limit is will reduce your score. 3. Length of Credit History takes into account how long your credit has been establised. A longer credit history will increase your score. 4. New Credit. Opening several new accounts in a short period of time will decrease your score. 5. Types Of Credit In Use takes into consideration your mix of credit cards, installment and mortgage accounts. Your experience with handling credit cards and installment accounts rather than just one type will increase your score.