Factors That Affect Your Credit Score

Your credit score is a number ranging usually from around 500 to 900 which indicates to lenders what kind of history you have with credit. A low credit score can make it harder to buy a car, take out a mortgage, or get approved for a credit card. There are several factors that affect your credit score. If you have ever wondered “What is your credit score based on?” Then this is the post for you.

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Can my spouse’s credit score affect mine?

Getting married comes with plenty of changes. Between living situations, name changes, joining finances, etc., some changes can be more subtle. If you’re getting married to someone with bad credit, you may be concerned with your spouse’s bad credit affecting yours. Learn more about it here!

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What is your credit score based on?

The thing that most affects your credit history is your history of making payments. If you have made regular payments on your credit cards, past loans, or even bills like your rent and electricity, then this section will be very good. However, missing payments on any of these can begin bringing your score down.

Another big factor is how much debt you are carrying. Having several maxed-out credit card may look bad on your credit score. Trying to pay off some of the smaller debts could help your credit score, because this is the second most-weighted factor.

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Credit History

The longer you have had a history of credit, and good credit habits, the better your score will look. Using a credit card sparingly for a long time, and paying it off right away, may be the best way to start building up a credit score.[/bscolumns][bscolumns class=”one_third”]

Credit Types

Credit companies don’t like it when all your credit is in one basket. Having a variety of different credit styles (an affordable car loan, and a few credit cards) shows that you are responsible in several different areas).[/bscolumns][bscolumns class=”one_third_last”]


When you apply for a credit card or an auto loan, financial institutions will check to see what you credit history looks like. Too many of these inquiries can bring down your score, though this doesn’t usually happen when you check your own score.[/bscolumns][bscolumns class=”clear”][/bscolumns]