Credit scores are primarily determined by which of the following factors?

The determination of credit scores is largely based on payment history and outstanding debt. Payment history accounts for a significant portion of a credit score, reflecting whether an individual has made payments on time or missed any payments. This factor showcases the borrower's reliability in repaying their debts, which is crucial for lenders when evaluating creditworthiness.

Outstanding debt also plays an essential role by looking at the balance owed on credit accounts compared to the total credit limit available. This is often referred to as credit utilization. Keeping outstanding debt at a lower percentage of available credit is favorable and can lead to a higher credit score since it indicates responsible credit management.

In contrast, factors such as income level, savings account balance, number of credit inquiries, homeownership status, employment history, and educational background typically do not directly influence credit scores. While they may impact a person's overall financial situation and ability to obtain credit, they are not part of the calculations used to derive credit scores.