Multiple choice general knowledge

Which of the following is majorly considered in evaluating the FICO Score

  1. Amounts Owed

  2. Length of Credit history

  3. Payment History

  4. Types of Credit Used
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C Correct answer
Explanation

Payment history is the most significant factor in FICO score calculation, accounting for 35% of the total score. While amounts owed (30%), length of credit history (15%), and types of credit used (10%) are all factors, payment history carries the most weight. Consistently making payments on time has the largest positive impact on your FICO score.

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