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Welcome to the
GO2bank™ Help Center
How can we help?

  1. Help
  2. Credit building products
  3. Experian Credit Care Advantage
  4. FICO® Score
  5. How are FICO® Scores calculated?

How are FICO® Scores calculated?

Your FICO® Scores are based on five main factors.

  • Payment history: Your payment history accounts for 35% of your FICO® Score, the largest share. It's your track record of making payments on credit cards and loans. Paying all your bills on time is one of the best ways to improve your credit scores.
  • Credit utilization: This accounts for about 30% of your FICO® Score. It's based on how much of the available credit on revolving credit lines, primarily credit cards, you're using. Experts say it's best to use no more than 30% of your credit at any point in the month, and for the best scores, stay under 6%. Calculate your credit utilization rate by dividing your total outstanding credit card balances by your total credit limits.
  • Length of credit history: This accounts for about 15% of your FICO® Score. It refers to the amount of time you have had credit accounts open, and how recently you've used an account. A longer history is a plus.
  • Credit mix: Your credit mix makes up about 10% of your FICO® Score. Credit mix means having different types of credit accounts, such as credit cards, a car loan and a mortgage. Having a wide range of accounts plays a small role in determining your FICO® Scores.

Related questions

  • How do I improve my credit score?
  • Why do I have two credit scores on my GO2bank app?
  • What Is a FICO® Score?

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Online access, mobile number verification (via text message) and identity verification (including SSN) are required to open and use your account. Mobile number verification, email address verification and mobile app are required to access all features. See GO2bank Deposit Account Agreement (PDF) and GO2bank Secured Credit Cardholder Agreement and Security Agreement (PDF) for fees, terms and conditions.

Cards issued by GO2bank, Member FDIC, pursuant to a license from Visa U.S.A., Inc. Visa is a registered trademark of Visa International Service Association.

GO2bank is Green Dot's flagship digital bank. Green Dot has serviced more than 33 million consumers directly over the last 22 years, and many millions more through our banking partners.

GO2bank also operates under the following registered trade names: Green Dot Bank, GoBank and Bonneville Bank. All of these registered trade names are used by, and refer to, a single FDIC-insured bank, Green Dot Bank. Deposits under any of these trade names are deposits with Green Dot Bank and are aggregated for deposit insurance coverage up to the allowable limits.

All third-party names and logos are trademarks of their respective owners. These owners are not affiliated with GO2bank and have not sponsored or endorsed GO2bank products or services.

Neither GO2bank, Green Dot Corporation, Visa U.S.A. nor any of their respective affiliates are responsible for the products or services provided by Ingo Money, Q2 Software, Plaid, or any eGift Card merchants. Partner terms and conditions apply.

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