Rates and terms are determined by overall credit history, loan - to - value and term of loan, and are subject to change. (americu.org)
To develop your credit score, FICO analyzes your debts against your limits, your history of on - time and late payments, the number of accounts you have, the various types of accounts you have (such as revolving, installment and so on), the length of your overall credit history and the amount of new credit you've been applying or. (businessinsider.com)
The older your accounts and your overall credit history, the larger time frame from which a company can accurately judge both your finances and behavior towards credit. (valuepenguin.com)