Credit History
Definition
The age of credit — how long you have held and managed credit accounts; a longer, well-managed history is generally viewed favourably.Credit history, often called the age of credit, is how long you have held credit accounts and how responsibly you have managed them over time. TransUnion CIBIL lists it among the main factors in a CIBIL score. It reflects your oldest account and the average age of your accounts, so closing a long-held account can shorten your history. A longer, well-managed history is generally viewed favourably, though it typically carries less weight than payment history or credit utilisation.
Related guides
Related terms
- CIBIL Score — A 3-digit credit score from 300 to 900 issued by TransUnion CIBIL that summarises an individual's credit history.
- Credit Report — A detailed record of a person's borrowing and repayment history maintained by a credit bureau.
- Credit Utilization Ratio — The percentage of your total credit limit you are currently using; keeping it below 30% is widely advised.
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