As we already stated, "Payment History" accounts for about 35% of your credit score. Lenders want to know how likely you are to pay your bills and by looking at you credit history they can see how responsible you are with your credit.
Recency of an Issue - This tells the lenders how much time has passed since you last had a problem. The older your most recent issue is, the less it impacts your credit score.
Frequency of Issues - The number of payment problems on your credit score is also important to the lenders. If you only had one ding, it is not nearly as devastating as a consistent pattern of credit trouble.
Severity of the Issues - A payment that is 30-days late is very different from a payment that is 60-days late and so on. Obviously, items such as collections, bankruptcy, and other negative marks from your Public Record will have a big negative impact on your credit score.
Payment History