Which factor can contribute positively to someone having a high credit score?

Maintaining 7% of available revolving debt usage is a strong factor contributing positively to a high credit score. This percentage indicates responsible management of credit utilization, which is the ratio of credit card balances to credit limits. Lenders and credit scoring models generally favor low credit utilization rates (typically considered to be below 30%) because they suggest that a borrower is not over-relying on credit and is likely to manage debt responsibly. By keeping the utilization at 7%, the individual demonstrates financial discipline, which can enhance their creditworthiness in the eyes of lenders.

In contrast, using 50% of available revolving debt would be viewed negatively, as it reflects higher reliance on credit and may suggest a riskier financial situation. While a credit age of 5 years can be beneficial for a credit score, it is not as impactful as maintaining low credit utilization. Lastly, having only one credit card does not inherently contribute to a high credit score; diversification in credit accounts can help build a more robust credit profile. Therefore, the practice of maintaining low credit utilization at 7% is a key strategy for achieving and maintaining a high credit score.