5 factors that determine your credit score.

A Credit Score represents how likely you are to repay a loan on time

5 factors that determine your credit score

  • Payment History (35%) – A track record of payments to credit accounts.
  • Overdue Amount (30%) – The amount left unpaid even after the due date.
  • Credit History (15%) – A record of debt and payment of debt over a period of time.
  • Credit Mix (10%)) – The variety of loans file, like credit cards, home loans, etc.
  • New Credit (10%) – The number of new credit accounts and hard inquires made by the lender.

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