Which factors can influence a person’s credit score?

The factors that influence a person's credit score are primarily related to how they manage their credit and debt. Payment history is crucial because it shows lenders whether a borrower has paid their past and current credit accounts on time. Credit utilization refers to the ratio of current debt to available credit, which helps assess how much of their credit a person is using. A lower utilization ratio generally indicates better credit management, contributing positively to the score.

Length of credit history is important as longer histories can demonstrate stability and reliability in managing credit. Finally, the types of credit used—such as credit cards, loans, and mortgages—create a diverse credit profile, which is beneficial as it displays a capability to manage various types of credit responsibly. These elements are integral to credit scoring models like FICO and VantageScore, as they help lenders determine the creditworthiness of an individual based on their financial behaviors.

In contrast, the other options discuss factors that do not directly impact credit scores. Monthly income and savings might indicate a person’s financial stability, but they are not factored into credit scores. Similarly, time spent in school and professional achievements, while they reflect a person’s background, do not influence credit scores. Lastly, investment portfolio performance and property ownership can affect financial health,