What factor has the biggest impact on a credit score?
A. Having a variety of types of credit.
B. The number of years that you have used credit responsibly.
C. The amount of money you owe on your credit cards.
D. Your history of making payments on time.
What factor has the biggest impact on a credit score?
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The correct answer is D. Your history of making payments on time.
Payment history has the biggest impact on your credit score. It accounts for about 35% of the score, which means that consistently making payments on time demonstrates reliability to lenders. Late payments can significantly lower your credit score, while a strong record of on-time payments can improve it.