What are the different factors that affect my credit score?

There are various factors that can impact your credit score, ultimately determining your creditworthiness. Firstly, payment history heavily influences your score, as consistently paying bills on time is crucial. Additionally, credit utilization, or the ratio of your credit utilization to available credit, plays a significant role. It's advisable to keep this ratio low to maintain a healthy score. The length of your credit history is important as well, with longer histories typically indicating better creditworthiness. Credit mix, highlighting diverse types of credit, can also positively impact your score. Lastly, new credit inquiries or opening multiple accounts at once can temporarily lower your score. It's essential to responsibly manage and monitor these factors to maintain a good credit score.