What can be considered a large factor impacting your credit score?

Payment history is a significant factor impacting your credit score because it reflects your reliability in repaying credit obligations. This aspect accounts for approximately 35% of your FICO credit score, making it the largest individual component. Lenders assess your payment history to evaluate the likelihood of you repaying future debts, as it provides a clear record of how consistently you've paid your bills on time or how often you've missed payments. A positive payment history, including on-time payments and the absence of delinquencies or bankruptcies, can greatly enhance your credit score, while late payments can severely damage it.

In contrast, while income level, social media activity, and geographic location may have some indirect influence on your financial situation and borrowing ability, they do not directly affect your credit score. Lenders primarily focus on factual and trackable data, such as payment history, when assessing creditworthiness.