In the terms of your FICO score your credit history is in regards to the how long you have utilized credit. The load it has in the FICO score formula is 15
. The load it has is due to the connection of the longer an individual has held credit the lesser the danger oldest account is discontinued it will harm both.
There is little an individual can do to improve this component of the FICO score calculation above and beyond staying away from the common errors above. Moreover, if an individual doesn’t carry a balance on the oldest line of credit, it is wise to take advantage of the card every now and then. Many accounts sometimes close the card because of non use.