BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Length of credit
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Amount owed
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Type of credit
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Payment History
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Detailed explanation-1: -Payment history is the most important factor in maintaining a higher credit score. It accounts for 35% of your FICO score, which is the score most lenders look at. FICO considers your payment history as the leading predictor of whether you’ll pay future debt on time.
Detailed explanation-2: -Payment history shows how you’ve paid your accounts over the length of your credit. This evidence of repayment is the primary reason why payment history makes up 35% of your score and is a major factor in its calculation.
Detailed explanation-3: -The primary factors that affect your credit score include payment history, the amount of debt you owe, how long you’ve been using credit, new or recent credit, and types of credit used.