Question

Of the following statements, which one or ones describe actions helpful to your credit score?

I. Quickly paying off debts
II. Having recent debts
III. Having long-standing lines of credit
a.
I only
b.
II and III
c.
I and III
d.
III only

Answer 1

c. I and III

Paying debts quickly improves payment history and lowers credit utilization (helpful), and long-standing lines of credit raise your average account age (helpful). Recent/new debts/accounts tend to lower average age and can hurt scores.