Factors that Affect Credit Score

  • Payment History
  • Opening many new accounts in a short amount of time
  • Public Records
  • Length of credit history (the more credit history, the better)
  • Every time someone looks at your credit score (lender or landlord)it goes down
  • The presence of too many accounts open
A number assigned to a person that indicates to lenders their capacity to repay a loan. The higher your credit score is the better. If your credit score is high you will be able to get many benefits such as higher loan amounts, lower interest rates, and could even help you with your mortgage. What factors make up a credit score?