What percentage of a credit score is typically based on payment history?

Payment history is one of the most significant factors in determining a credit score, accounting for around 35% of the total score. This aspect emphasizes the importance of on-time payments, as it reflects the borrower's reliability and ability to manage debt. Lenders view a strong payment history favorably, as it suggests lower risk in lending to that individual. Therefore, maintaining timely payments on loans, credit cards, and other obligations is critical for fostering a positive credit profile. Understanding this weight of payment history can motivate individuals to prioritize their payment schedules, thereby improving their overall financial health and creditworthiness.