Steve and Lisa's Mortgage Morsels

15 percent of the total credit score is based on the length of time each account has been open and the length of time since the account's most recent action. As a result, it is impossible for a person who is new to credit to have a perfect credit score. A longer credit history provides more information and offers a better picture of long-term financial behavior. Therefore, to improve their credit scores, individuals without a history should begin using credit, and those with credit should maintain longstanding accounts.