Bill Paying History (35%)
We all know to pay our bills on time. If you always have, you've done well in this category. If you slip up here and there, it can hurt your score a fair amount. The more recent the slip up, the more it hurts your score. A pattern of bad behavior is worse than one or two mistakes. A string of 30‑day late payments is worse than one 60‑day late.
How Much You Owe Now (30%)
Your scoring is determined by how much you owe relative to how much credit you have available on your credit cards. The closer you are to maxing out your cards, the lower you'll score in this area. However, owing nothing doesn't prove your ability to handle credit ‑‑owing a little bit is better.
How Long You've Managed Credit (15%)
When people are trying to get their credit cards under control, one of the things they might want to do is make sure you don't have too many tempting cards in your wallet. But when it comes to your credit score, you may not want to cut up that one card you've had the longest. Then the credit scoring companies lose the ability to see just how long you've been managing your credit. It may be better to keep that old card even if its at a high interest rate, use it once a year and pay it off completely rather than cutting it up.
Mix Of Credit (10 %)
It's good to show that you can manage different kinds of credit. So having an installment loan as well as a revolving account is a positive.
Pursuit Of New Credit (10%)
Moderation is the key. If you're out looking for credit every month, it’s a minus. Less frequently than that, you'll probably be okay.
