Question
1 point Which of the following MOST influences your credit score? Length of credit history Types of credit used Amounts owed Payment History
Answer
4.6
(327 Votes)
Mia
Veteran · Tutor for 11 years
Answer
D. Payment History
Explanation
A credit score is influenced by several attributes such as length of credit history, to see how a person has managed their debt over a period of time (typically 15%). Types of credit used are taken into account to see a person's portfolio of credit whether it is diverse or not (10%). Amounts owed, determines the total amount of a person's debt serves as 30% of the score - owing too much or too close to your credit limit(s) can significantly decrease your score. However, the most significant influencer of a credit score is payment history contributing to 35% of the score - at its basis, creditors want to see you manage any lines of credit responsibly.