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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.

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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.

GO2bankTM cards are issued by Green Dot Bank, 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 mobile bank account. Green Dot has serviced more than 80 million accounts over the last 25 years.

Green Dot Bank also operates under the following registered trade names: GO2bank, 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.

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