2. Amounts Owed: 30% of Score

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Many consumers carry balances on their credit cards, car loans, mortgages, and other types of accounts. Depending on the amounts owed, this may be an indication that the consumer is overextended, which may lead to late payments or no payments at all. This factor helps determine whether the consumer can currently manage more credit responsibly.

This factor evaluates the following:

How much is owed. Even if an account is paid in full, a credit report may still show a balance on that account. The balance on the consumer's last statement is generally what is shown on their credit report.

Who is owed. Part of this score takes into consideration the amount owed on specific types of accounts, such as credit cards and loans.

3. Length of Credit History: 15% of Score

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A longer, positive credit history will increase a score. However, those with shorter credit histories may still earn high credit scores if their other scoring factors are strong.

This factor evaluates the following:

The age of the consumer's accounts, including the age of the oldest account and the average age of all accounts.

How often the accounts are used.