What type of account history is evaluated for 15% of a credit score?

The correct answer is related to credit history, which refers to the length of time an individual has had open credit accounts and their payment behaviors over that time. Credit history accounts for 15% of a credit score because it provides lenders with insight into a borrower's track record of managing credit obligations. A longer credit history typically indicates more experience with credit management, whereas a shorter history may raise concerns for lenders regarding the applicant's reliability.

While utilization, new credit, and credit mix also play important roles in the credit scoring model, they do not fall under the category that accounts for 15% of the credit score. Utilization deals with the current amount of credit being used in relation to the total credit available and is a significant factor, typically accounting for a larger percentage. New credit refers to the recent requests for credit and the opening of new accounts, which can indicate risk, particularly if there are too many inquiries in a short period. Credit mix evaluates the variety of credit accounts a consumer has, such as credit cards, mortgages, and installment loans, to ascertain their ability to manage different types of credit. However, it too does not specifically relate to the 15% portion of the score that credit history encompasses.