ECONOMICS
CREDIT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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How many credit cards you have
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How you Pay your Bills
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How much money you have
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Your oldest credit card
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Detailed explanation-1: -Payment history-whether you pay on time or late-is the most important factor of your credit score making up a whopping 35% of your score. That’s more than any one of the other four main factors, which range from 10% to 30%.
Detailed explanation-2: -Payment History: 35% Your payment history carries the most weight in factors that affect your credit score, because it reveals whether you have a history of repaying funds that are loaned to you. Amounts Owed: 30% Length of Credit History: 15% New Credit: 10% Types of Credit in Use: 10%
Detailed explanation-3: -Payment history. Payment history is the most important factor influencing your credit score – accounting for 35% of the total score. Amounts owed. Length of credit history. New credit. Credit mix. 30-Dec-2022