Fico score is a credit score that lenders use to determine whether or not you will pay your debts. Each of the three major credit bureaus will assing you a Fico score number based on your credit history such as:    

1. Late payments
2. The amount of time credit has been established
3. The amount of credit used versus the amount of credit available
4. The length of time at your present residence
5. Employment history
6. Negative information: bankruptcies, charge-offs, collections, judgements.

How do I increase my credit score?

1. Pay your bills on time. Recent lates have a big impact on your credit score.
2. Do not apply for credit frequently. A large number of inquiries on your report can worsen your score.
3. Reduce your credit card balances.