What percentage of a credit score is determined by payment history?

Payment history is the most significant factor contributing to a credit score, accounting for 35% of the total score. This aspect is critical because it reflects an individual's reliability in making payments on time for existing credit accounts, including credit cards, mortgages, and other loans. A strong payment history can greatly improve a credit score, while missed or late payments can have a negative impact.

Understanding that payment history holds such weight emphasizes the importance of consistently meeting payment obligations. This factor is closely monitored by credit reporting agencies and can influence lending decisions, interest rates, and overall creditworthiness.