What Factors Affect Your Credit Score

While many things impact your credit score, there is also misinformation about credit ratings.

TRUE	FALSE
MISSING OR LATE PAYMENTS Missing or making late payments regularly can be recorded on your credit score as a default, which can lower your credit score for up to 6 years.	PERSONAL INFORMATION While it's true that your credit report will include your name and address, information like marital status and religion doesn't affect it.
APPLYING FOR CREDIT OFTEN Every credit application requires a hard search of your credit score, which can negatively affect your credit score if you make multiple applications.	CONDUCTING A SOFT SEARCH Before making a credit application, some lenders can conduct a 'soft search' to determine if your application will be accepted and it won't harm your credit score.
MAXING OUT YOUR CREDIT Lenders might think you rely too much on credit if you use the majority amount on your credit card or your entire overdraft.	CHANGES IN INCOME Changing jobs, getting a pay rise or a decrease in pay doesn't impact your credit score at all. It will affect how easily you can make payments however.
LENGTH OF YOUR CREDIT ACCOUNTS If you've had one or more credit accounts for a significant time. Your credit score will be positively or negatively affected, depending on how responsibly you've used them.	BEING DENIED CREDIT Your credit file won't show whether any applications were accepted or denied. While any hard searches are recorded, they won't have a lasting effect on your credit score.