This section is pretty self-explanatory. This is where good on time payments will help you. If you have late payments, collection accounts, charge offs, repossessions, judgments, tax liens, foreclosures, or bankruptcy items – then this is the section where points will be deducted for them.  One of the most important aspects of your credit is how you paid the credit that was extended to you.  Notice I did not say whether you eventually paid the money back – that actually has very little bearing – more importantly is HOW you paid it back -timely or untimely – hence your PAYMENT HISTORY!