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Factors That Influence Credit Scores
Learn what affects your credit score and how to optimize each factor
Payment History
The most important factor. Even one late payment can significantly hurt your score.
Credit Utilization
Keep credit card balances below 30% of your limits. Lower is better.
Credit Age
Longer credit history helps. Don't close your oldest accounts.
Credit Mix
Having different types of credit (cards, loans) can help your score.
New Credit
Too many new accounts or inquiries can hurt. Space out applications.
Hard vs Soft Inquiries
Hard inquiries (credit applications) affect your score. Soft inquiries (checking your own score) don't.