Your credit report is generated by three major companies and includes information on how much you owe to various creditors, your payment history, and other financial obligations. Your FICO credit score, which ranges from 760 to 620, is calculated based on your payment history (35%), amounts owed (30%), length of credit history (15%), new credit (10%), and credit types (10%). To improve your score, you should pay your bills on time, avoid opening multiple new accounts unless needed, keep credit balances low at less than 25% of the limit, and review your credit report yearly.