[Infographic] Credit Score 101

Most people need a good credit score to get a loan for a new home or a new car. Which of those moves are lowering your score? Which ones are helping it rise? Visit a Zions Bank branch near you today to see how a great credit score can help you save on a car or home loan.

A credit score is a number generated on your credit report used to predict how likely you are to pay your bills. Your credit score can make a big impact on your life. Here are the basics you need to know for a better financial future.

Your credit score is affected positively when you pay your bills on time and in full, use 25% or less of your available credit, and you maintain steady employment.

Your credit score is affected negatively when you miss making payments or pay them late, use more than 80% of your available credit, have too many credit line requests, experience periods of unemployment, and have gone through a foreclosure or filed bankruptcy.

Excellent: 800+
Very good: 700-799
Good: 680-699
OK: 620-679
Poor: 580-619
Bad: 500-579
Very bad: 499 and lower

There are five categories that go into determining your credit score. Here are the percentages based on their importance.

10% New credit
10% Types of credit in use
30% Amounts owed
35% Payment history
15% Length of credit history

See how a great credit score can help you save on an auto or home loan from Zions Bank. Visit a Zions Bank branch today.