Payment history determines how often you make payments on time. Every time you miss a payment, you’re negatively impacting your score. Anything past 30 days can hurt your credit score. The more on-time payments that you make, the higher your score will be.

Total Debt is how much you owe on loans and credit cards. It also takes into account the number and types of accounts you have, and the amount of money you owe compared to how much credit you have available. High balances and maxed-out credit cards can lower your credit score. The general rule of thumb has been that you don't want your credit utilization ratio to exceed 30%.

Length of Credit History is how long any given account has been reported open. The longer your history of making payments on time, the higher your score will be. Lenders will look at the average age of your credit when factoring in credit history. This is why you should consider keeping your accounts open and active. It may seem like a good idea to avoid applying for credit, but it can actually hurt your score if lenders have no credit history to review.

New Credit History shows you how many accounts you’ve recently applied for or opened. When you apply for new credit, inquiries can remain on your credit report for two years. It is important to understand when and when not to make new credit inquiries. You don't want to open a lot of new accounts too rapidly. New accounts can lower your average account age, which in turn, may have a larger effect on your overall score.

Types of Credit Used considers the different types of accounts you have or credit mix. This can include credit cards, retail accounts, installment loans, finance company and mortgage loans. A good credit mix can help your credit score. It shows lenders your ability to successfully manage different types of credit.