11/08/2022
Five major factors determine your credit score. What factors determine your credit score? There are five major factors to pay attention to:
1. Payment history: This is the most important factor, and it affects 35% of your score.
2. Credit utilization: This is how much credit you’re using at a given time, and it accounts for 30% of your score.
3. Credit history length: This is how long you’ve had credit accounts, and it is responsible for 15% of your score
4. Credit mix: This is how many types of credit you’re using, and it accounts for 10% of your score.
5. New credit: This is how many recent accounts you’ve opened. It accounts for 10% as well.
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