What are two factors used to determine a credit score? Explain how they indicate good or poor credit. Write in complete sentences

Payment history: Lenders are most concerned about whether or not you pay your bills on time.

Amounts owed: The amount of debt you have in comparison to your credit limits affects your credit. the higher the debt the riskier you seem to a potential creditor.

Length of credit history: Having a longer credit history is favorable because it gives them a more favorable picture that you have built credit over the years with other creditors.

New credit: In general, people who open many new credit accounts in a short amount of are considered a high risk. Too many new accounts can negatively impact your credit score.

Explanation:

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