: The age of your oldest and newest accounts. Longer histories generally result in higher scores.
: Your record of making on-time payments. This is the most influential factor.
Most scoring models, like , use five key factors from your credit history:
A credit score is a three-digit number, typically ranging from , that summarizes your creditworthiness. It acts as a "financial report card," telling lenders how likely you are to repay debt on time. 1. How Credit Scores Are Calculated
: Having a variety of account types, such as credit cards and installment loans (car loans or mortgages), can improve your score.
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