Your credit score can feel a little mysterious. One late payment and it drops. Open a new card and it changes again. So, what actually matters?
The good news: credit scores are based on a handful of consistent behaviors and understanding them can help you build stronger financial habits over time.
With tools like My Credit Manager*in Digital Banking, you can also see what’s impacting your score in real time – helping you turn insight into action.
The Two Biggest Factors That Impact Your Credit Score
Payment History (Biggest One)
Paying your bills on time matters most. Even one missed payment can impact your score, especially if it goes 30+ days past due. Use these tips to stay on top of your payments:
- Set up autopay for minimum payments
- Use payment reminders
- Catch up quickly if you miss one payment
➡️ With My Credit Manager, you can keep an eye on your score and see how your payments may be affecting it.
Credit Utilization
This is how much of your available credit you’re using. For example, if you have a credit card with a $5,000 limit and a $1,000 balance, you are utilizing 20% of the available credit.
It’s recommended to keep it below 30%, and even lower if possible.
➡️ My Credit Manager can help you monitor your credit usage and understand how it may be influencing your score.
Different Types of Credit Can Help Your Score
Responsibly managing a variety of credit types may positively impact your score over time. But that doesn’t mean you should open accounts you don’t need, only open accounts as you need them.
Common types of credit include:
- Credit cards
- Auto loans
- Mortgages
- Student loans
- Personal loans
➡️ My Credit Manager gives you a full view of your credit profile so you can better understand your mix of accounts.
How to Check Your Credit Report for Free
Checking your own credit report does not hurt your credit score. You can access free credit reports from the three major credit bureaus at AnnualCreditReport.com.
You should review your report for:
- Incorrect personal information
- Accounts you don’t recognize
- Payment errors
- Unexpected balances
Catching mistakes early can help protect both your credit and your identity.
➡️ My Credit Manager also makes it easy to stay informed about changes to your credit so you can spot potential issues sooner.
A good credit score is usually built through consistent habits over time, like paying on time and keeping your balances manageable – it’s not about perfection. Small steps today can make a meaningful difference in your financial future.
Enroll in My Credit Manager and stay on top of your credit progress.
*Available only for consumer accounts.