Factors that make up your credit score
- Late or missed payments will drive down your credit score and remain on your record for seven years.
- Credit utilization is the percentage of available credit you're currently using. If you use more than 30% of your available credit, scoring models will consider you unreliable.
- Credit history considers your long-standing credit accounts. A long account history in good standing increases your score.
- Too many recently-opened credit accounts can be seen as risk.
- Having different credit accounts increases your credit score.
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