Your CTOS score reflects your creditworthiness, based on various factors including payment history, amounts owed, credit history length, credit mix, and new credit. Each factor has a different weight on your score:
Payment History (45%): This is the core of your score, indicating your reliability in repaying debts.
Amounts Owed (20%): This represents your credit utilization. High balances relative to your credit limits can lower your score.
Length of Credit History (7%): A longer history provides more data for lenders, typically benefiting your score.
Credit Mix (14%): A variety of credit types shows you can manage multiple forms of debt.
New Credit (14%): Opening several new accounts in a short period may signal financial strain, affecting your score negatively.
Credit to: CTOS
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