How the length of credit history affects your credit score?

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How the length of credit history affects your
credit score?
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Credit score is a significance of your
creditworthiness. The credit report contains a
record of your payment history, credit age, and
other factors which eventually determines your
credit score.
The length of credit history plays a meaty role.
It accounts 15 of your credit score.
Whether youve had credit for 6 months or 10
years can make a big difference in your credit
score. Youre a much better candidate for credit
cards and loans when youve had a long and
positive credit history.
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What Determines the Length of Credit History?
The credit scoring model looks at your oldest and
newest accounts to determine the average credit
age.
The average age of all your accounts are also
factored into the length of credit history.
Several opened accounts can lower your average
credit age and hurt your credit score.
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How the Length of Credit History Affects Credit
Score?
Lenders review your credit history to determine
how likely you are to repay your loan on time. A
longer history shows you have more experience
using credit and longer track record of
repayment. 
The longer your credit history, the more accurate
lenders can be in determining the level of risk
they take on when lending to you. Do not stress
out if you are just joining the league as the
essential elements of a credit score is not just
the length, but to pay your dues on time.
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How Do You Improve Your Credit History?
You can check a free credit score on credit
bureau websites such as that of CRIF High Mark.
Well if you haven't checked yet, you can do that
first.
In case you have never applied for a credit card
or a loan in your name, your most likely reaction
after viewing your score would be why is my
credit score -1 or NH or not available?. Well
dont worry, it shows -1 or NH because you dont
have any credit history yet. This is your step 1
of building your credit score.
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 Start Early
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Pay Your Dues on Time
If your credit history indicates that youve
missed payments or over utilized credit cards, a
long credit history might not help.
On the other hand, if you have a long history of
timely payments with a low credit utilization
ratio, it shows that you are responsibly managing
credit and are worth the risk for lenders. 
This means that when a lender performs a credit
check, you could be more likely to be approved
for credit cards and loans at a better interest
rate.
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Retain Older Credit Accounts
Credit age is all about how old your payment
history dates back to, its worth considering old
credit accounts with a decent track record before
closing them.
The longer an account has been open and active,
the better it is for the credit score. Thats
particularly true for an account with positive
payment history, without any delinquency. 
Even when you close a credit card, it will stay
on your credit report and continue to reflect
for around 7 years.
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Limit Loan Applications
Applying for multiple loans with multiple banks
indicates credit hungry behavior. Also, each time
you apply for a loan, the bank conducts a hard
inquiry on your account.
It also does not help with your credit history
length as the average age is reduced due to the
opening of simultaneous accounts.
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Check Your Credit Score Every Once in A While
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You can get both your Personal Credit Score and
Business Credit Score by applying directly on
the link mentioned below
https//cir.crifhighmark.com