The first step to eliminating credit card debt is to destroy the cards. This will prevent you from adding further debt onto the card.
| Percent Weighed |
Description |
| 35% |
Payment History (how reliable you are in making payments on credit cards and long-term loans) |
| 30% |
Debt, including total owed, number of accounts with balances, percentage of available credit |
| 15% |
Length of Credit History. Generally, a longer credit history improves your score |
| 10% |
New Accounts, including those recently opened and those for which you are in the process of applying |
| 10% |
Other. FICO considers other minor factor, such as whether you have a diverse range of loans, including auto, home, and credit cards. Generally, it is better to have a range of loans rather than several of one type. |
