Why has my score changed?
Six major factors that influence your score are listed beneath your score. They are:
Payment history: Payment history has a high impact on your credit score, demonstrates your ability to make payments on time and shows how reliable you are when paying back what you owe.
Age of Credit: Age of credit has a high impact on your credit score and is the average amount of time that you have had all of your open credit accounts. This measures the longevity of your credit history.
Utilization: Credit utilization has a high impact on your credit score and shows how much you spend as a percentage of your total available (credit limit). Higher percentages indicate that you may not have your spending under control.
Negative Marks: Negative marks have a high impact on your credit score and they are indications of poor credit behavior in the past including accounts in collection, lien, and bankruptcies.
Credit Inquiries: Credit inquiries have a low impact on your credit score. This counts all of the hard inquiries on your report which typically happen when you apply for a credit card, loan, or other form of credit and authorize a lender to pull your credit report so that they may evaluate your credit worthiness.
Total Available Credit: Available credit has a low impact on your credit score. It shows how much total credit you have available to you