Question

Your FICO credit score is based on which of these factors (there can be more than one right answer).

A) How much money you owe
B) Whether you've paid on time or late
C) How long new credit you have
D) Whether you asked for new credit recently.

Answer 1

A FICO credit score is based on factors such as the amount of money you owe, your payment history, the length of your credit history, and recent credit applications.

Step-by-step explanation:

A FICO credit score is based on multiple factors, including the following:

1. How much money you owe: The amount of debt you have, including credit card balances, mortgages, and loans, can impact your credit score.
2. Whether you've paid on time or late: Your payment history, including any late payments or delinquencies, can affect your credit score.
3. How long new credit you have: The length of your credit history, including the age of your accounts, can impact your credit score.
4. Whether you asked for new credit recently: Recent applications for credit, such as loans or credit cards, can affect your credit score.