21
QuizMultiple Choice

Credit Scores and Reports

Question 21 • 26-27 Ignite Technical Math-Financial Math - MA2007

Rank the following factors in order from those that have the most effect on your credit score to those that have the least effect on your credit score.I. Amount of money owedII. Payment historyIII. Credit history length

Answer
A
I, II, III
B
II, I, III
C
II, III, I
D
III, II, I

Explanation

Payment history has the greatest effect on a credit score, accounting for about 35% of a typical FICO score. Amounts owed come next at about 30%, followed by the length of credit history at about 15%. So the order is II, I, III: payment history, amount owed, then credit history length. This matches choice B.

AI-written and checked against the verified answer.

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