Is it true that 35% of your credit score relies on payment history?


by natalie , in category: Credit Ratings , 3 years ago

I saw a chart that shows that 35% of your score is determined by payment history, second to this with 30% is amounts owed. I always thought that amount owed was the most important factor in keeping credit scores good?

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6 answers


by jerald , 3 years ago

Yes, in most cases this is accurate. This is why it is important to not only pay debts each month on time but pay above the minimum required. So if your minimum is say, $27 a month, it is best to pay close to double that rounding down so $50 a month.


by ramiro , 3 years ago

I thought the minimum was just that and it had no effect on your scores. So since I was making the minimum all these years, my score likely dropped from that?

I know I did miss some payments so my score also dropped from that but still.

by llewellyn.cronin , 3 years ago

Payment history deals directly with missed payments or late payments. Both of these drop scores the fastest. One missed payment can result in a sizable drop in your score.

by trever_romaguera , 3 years ago

I would say in some cases, 50% of it does! All cards are different and all lines of credit, loans, ect. look at different things with your history.

by ophelia_rice , 3 years ago

I read this before myself so there has to be some truth to it. I feel like the percentage can fluctate though depending on your loans, credit, and overall history. The longer you are with one bank or company, the less I think the percentage will be.


by leslie , 3 years ago

I think this tends to be the case. I mean I have noticed my scores improve when I focus more on paying cards off vs paying the monthly minimum. I guess it depends on the credit line and the bank though.