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In Business / College | 2025-07-07

There are various types of credit that are part of calculating a person's FICO® score. What is the input percentage of these credits toward a FICO score?
A. 10%
B. 30%
C. 35%
D. 20%

Asked by jadeann1979

Answer (1)

The question asks for the percentage contribution of 'types of credit' to a FICO score.
The correct percentage is 10%.
Therefore, the answer is: 10% ​ .

Explanation

Understand the problem The question asks for the percentage contribution of 'types of credit' to a FICO score. The options are: A) 10%, B) 30%, C) 35%, D) 20%.

Identify the correct percentage The percentage contribution of 'types of credit' to a FICO score is 10%.


Examples
Understanding the factors that influence your credit score is crucial for maintaining good financial health. For instance, knowing that 'types of credit' contribute 10% to your FICO score can help you prioritize managing different credit accounts effectively. This knowledge is useful when deciding how to diversify your credit portfolio, such as balancing credit cards, installment loans, and mortgages to optimize your credit score.

Answered by GinnyAnswer | 2025-07-07

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