payment history

USAGE SUMMARY

The phrase "payment history" is correct and usable in written English.
You can use it when referring to the record of payments made over a certain period, often in financial or banking contexts. Example: "Before applying for a loan, it's important to check your payment history to ensure there are no missed payments."

✓ Grammatically correct

News & Media

Wiki

Science

Human-verified examples from authoritative sources

Exact Expressions

59 human-written examples

A year's payment history on CD is $19.95.

The New York Times - Travel

Your credit report contains details of your balances, limits and payment history.

Independent

This is important, because payment history represents 35 percent of an individual's FICO score.

The New York Times

Checking the past payment history with the credit bureaus is a part of that.

The New York Times

Also included in the payment history are events like bankruptcies, foreclosures, wage attachments, liens and judgments.

The New York Times

A payment history is available online for six months, offline for seven years.

The New York Times - Travel

A payment history reflects how consistently a person has paid his or her accounts on time.

The New York Times

About 35percentt of the score is based on payment history.

The New York Times

Amigo feeds your payment history to the credit reference agencies, so again paying on time each month is important.

Independent

The bank also looks at a variety of other factors, including FICO credit scores and payment history.

The New York Times

But people also need to build payment history.

TechCrunch

Expert writing Tips

Best practice

When using the term, consider the audience. In formal settings, "payment history" is appropriate. In more informal contexts, "record of payments" may be suitable.

Common error

While "payment history" is a key component of your credit report, don't mistake it for your entire "credit history". "Credit history" includes other factors like credit utilization and types of credit accounts.

Linguistic Context

The phrase "payment history" functions primarily as a noun phrase, serving as a subject or object in a sentence. Ludwig provides numerous examples demonstrating its use in describing financial records and creditworthiness.

Expression frequency: Very common

Frequent in

News & Media

35%

Wiki

33%

Formal & Business

12%

Less common in

Science

10%

Academia

5%

Reference

5%

Ludwig's WRAP-UP

In summary, "payment history" is a noun phrase widely used in financial contexts to describe the record of past payments. As shown by Ludwig, it's a critical factor in determining credit scores and assessing financial responsibility. The analysis indicates that the phrase is grammatically correct and appropriate for both professional and neutral settings. Given that a substantial part of your credit score relies on punctual payments, it's crucial to pay bills on time. As underlined by Ludwig, maintaining a clean "payment history" can improve creditworthiness and unlock opportunities for credit approvals. The sources cited by Ludwig include authoritative publications, lending credibility to the phrase's proper usage and importance in financial literacy.

More alternative expressions

Phrases that express similar concepts, ordered by semantic similarity:

past payment performance

Highlights the past ability of a person or business to honour their monetary duties and obligations.

record of payments

A more literal alternative, simply emphasizing the documentation of payments made.

remittance history

Focuses specifically on the history of remitted payments, often used in the context of international transfers or dues.

history of transactions

Focuses on the historical aspect of different financial actions, including paying and receiving.

transaction record

Emphasizes the recorded details of financial transactions, including payments made.

debt repayment history

Specifically refers to the historical record of repaying debts, highlighting responsible borrowing behavior.

credit record

Highlights the history related to credit accounts, showcasing repayment behavior.

settlement record

Focuses on the record of finalized settlements of debts or financial obligations.

financial track record

Broadly describes the historical performance in managing financial obligations and payments.

compensation history

Deals with tracking and documenting the record of employee remuneration.

FAQs

What does "payment history" refer to in a credit report?

In a credit report, "payment history" refers to the record of how consistently you've paid your credit accounts and loans over time. It shows whether you've made payments on time, were late, or missed payments altogether.

How does my "payment history" affect my credit score?

Your "payment history" is a significant factor in determining your credit score, often accounting for around 35% of the score. Making timely payments can improve your credit score, while late or missed payments can significantly lower it.

Where can I find my "payment history"?

You can find your "payment history" on your credit report, which you can obtain from the three major credit bureaus: Experian, Equifax, and TransUnion. You are entitled to a free credit report from each bureau annually.

What can I do to improve a negative "payment history"?

To improve a negative "payment history", focus on making all future payments on time. Consider setting up automatic payments to avoid missing due dates. Over time, consistent on-time payments can help rebuild your credit. You might also want to check if a secured credit card can help to increase your "credit history".