 TITLE: What Kinds of Bills Affect Credit Scores? CONTENT: Types of Accounts That Can Impact Credit Scores\n-----------------------------------------------\nCredit scoring software programs, known as scoring models, perform complex statistical analysis on the data in your credit reports—the records showing your history of borrowing money and paying your bills. Scoring models generate a three-digit score, based on your predicted likelihood of paying your bills. Models may use different score ranges, but all typically assign higher scores to individuals seen as likelier to repay their loans and lower scores to those seen as riskier borrowers.\nWhile no two models operate identically, the FICO® Score☉ , used by 90% of top lenders, says payment history—your pattern of paying bills on time—is the single most significant influence on your FICO® Score, responsible for as much as 35% of the score. FICO rival VantageScore® has similarly cited payment history as the most influential factor affecting its scores.\nTraditionally, credit reports have recorded payments on two types of debt: installment loans and revolving credit accounts.\n*   With an installment loan, you borrow a lump sum of money and pay it back in a series of regular payments over a set number of months. Each payment, or installment, is typically the same amount. Student loans, car loans, and mortgages are all examples of installment loans.\n*   Revolving loans, such as credit card accounts and some kinds of home equity loans, allow you to borrow against a specified borrowing limit and make repayments of varying amounts, as long as you meet a required minimum payment each month. END