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What Makes Up Your Credit Score

Your credit score is one of the most important numbers in your financial life. It plays a key role in your ability to do things like buy a home or car, rent an apartment and qualify for lower insurance premiums. Potential employers may also check your credit reports during the application process.

The higher your credit score, the better! But what exactly goes into your credit score — and how can you improve it?

Let's take a closer look:

Understanding Your Credit Score​
Think of your credit score as your “financial GPA." It's based on information from your credit report, which is like your “financial report card." Lenders look at your credit score to understand your financial history and how responsible you are when borrowing money.

Your credit score will change depending on your financial activities and decisions, much like how a GPA changes based on your grades in different classes. This is why it's so important to check your credit score regularly.

What Makes Up Your Credit Score?

There are five main factors that make up your credit score:

  • Payment history — This looks at your history of paying bills on time.
    Tip: Setting up auto-pay can help you avoid accidentally missing a payment.
  • Credit usage — How much credit you're using compared to your total credit limit.
    Tip: Try to use no more than 30% of your available credit to keep credit utilization low.
  • Account mix —  The different types of credit accounts you may have, such as mortgages, auto loans and credit cards.
    Tip: Try to maintain a diverse mix of debt accounts.
  • ​Credit age — Building a long, healthy credit history helps your score.
    Tip: If you have multiple credit cards, try to keep them active, and avoid opening too many new accounts at once.
  • Inquiries — When you apply for credit, “hard pulls" or hard inquiries can temporarily reduce your credit score.
    Tip: Wait at least six months between inquiries.

Wondering How to Check Your Credit Score?
With My Credit Score, a free tool available in Wright-Patt Credit Union®'s (WPCU®) Mobile and Online Banking, it's easy to understand your score — and more!

My Credit Score doesn't just let you check your credit score for free​. It also allows you to see the individual factors that impact your credit score and tells you how you're doing with a “grade" (A, B, C, or D).

If you need to improve in any areas, My Credit Score even provides recommended actions to help you raise your score!

Take the Next Steps in Your Credit Journey
More than just your score, My Credit Score also gives you access to tools and resources designed to help you build and maintain good credit throughout your Financial Flexibility and Freedom® journey.

Plus, you'll receive recommended offers based on your personal score, such as money-saving opportunities to consolidate and refinance debt or reduce your monthly payments with WPCU.

Understand Your Credit Score — and More!
If you haven't already, enroll in WPCU's easy-to-use Mobile and Online Banking to access My Credit Score on top of our other convenient Digital Services.

Then, access My Credit Score from our WPCU Mobile App or from Online Banking:

  • WPCU Mobile App: Log into WPCU Mobile App. From the home screen, simply tap the More menu and then select My Credit Score.
  • WPCU Online Banking: Once you log in to Online Banking, select My Credit Score from the top navigation bar menu.

Learn more about My Credit Score or visit our Education Center for more helpful tips, tools and resources.​