Duration of borrowing from the bank, labeled as credit history, makes up about 15% of the score
So it basis considers the age of your own oldest account, the average chronilogical age of your levels, and the ages of your newest account. Fundamentally, the newest offered your records, the higher its for your get.
Loan providers believe an extended records while the a sign away from balances and you will responsible borrowing from the bank management. It shows that you’ve got a reputation handling borrowing account more an extended months, which can encourage depend on in potential loan providers.
For those who have a 720 rating, it is likely that you may have a decent duration of records. But not, its necessary to continue maintaining and you can responsibly controlling the accounts so you can further alter your score.
Borrowing Mix

Carrying an excellent credit merge-instance charge card account, automobile financing, or other payment financing-will be beneficial and you can account always to possess ten% of rating. (більше…)