3. Length of Credit History
The longer you have had an account open and used it, the better it is for your score.
Your credit score may be lower if:
- you have credit accounts that are relatively new
- you close your older accounts and your remaining credit accounts are newer—for example, if you close a credit card account and transfer the balance to a new card.
Tip to improve your credit score
Consider keeping an older account open even if you no longer need to use it, especially if there is no annual fee. Use it from time to time to keep it active.