Which factor has the highest weight in determining FICO Scores?

Payment history carries the highest weight in determining FICO scores, making it crucial for consumers to prioritize timely repayments on debts. This factor accounts for approximately 35% of the overall score, reflecting how reliably an individual has paid their past credit accounts, including credit cards, mortgages, and other loans. A strong payment history indicates to lenders that an individual is a reliable borrower, which can enhance their chances of securing future credit with favorable terms.

While amounts owed, length of credit history, and types of credit used contribute to the overall FICO score—each representing different aspects of a consumer's credit profile—they do not have the same level of impact as payment history. Amounts owed focuses on the total debt and credit utilization, length of credit history considers the duration accounts have been active, and types of credit used reflect the diversity of credit accounts. All of these factors are important, but they play a secondary role compared to the weight of payment history in lending decisions and score calculations.