Factors That Affect Your Credit Score:

Several factors influence your credit score, including:

  • Payment History: Your history of making on-time payments is the most significant factor affecting your credit score.
  • Credit Utilization: The amount of credit you’re using compared to your available credit limits can impact your score.
  • Length of Credit History: The length of time you’ve had credit accounts open can affect your credit score.
  • Types of Credit: Having a mix of different types of credit accounts, such as credit cards, loans, and mortgages, can positively impact your score.
  • New Credit Inquiries: Applying for multiple new credit accounts within a short period can lower your credit score.