Will your credit score increase when your income increases?
The answer here is no. It might come as a surprise to learn that our income doesn’t play any role in the calculation of a credit score. According to VantageScore, there are six components in a credit score: payment history, percent of credit limit used, outstanding debt, credit age, recent behavior, and the amount of available credit.
Income isn’t there. The link between income and credit scores most certainly comes from those higher incomes that have much more available funds to pay off debt, which yes, boosts your score.
