Unemployment doesn't necessarily spell disaster for your credit score
: your payment history, amounts owed, length of credit history, credit mix, and new credit. These factors are weighted differently, with payment history and amounts owed accounting for 35% and 30% of your score, respectively.
Given that payment history and amounts owed are so heavily weighted, losing your source of income can indeed have some effect on your credit score — but only if unemployment impacts your ability to pay your bills. We'll get into that more below, but first let's make an important distinction.
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