Friday’s Credit Tip #7: Have a Range of Credit Types

The types of credit you have are a factor in calculating your credit score.

In general, lenders like to see that you are able to handle a range of credit types well.

Having some form of:

  • personal credit:
  • such as credit cards
  • some larger types of credit:
  • such as a mortgage
  • or auto loan

Paying them all off regularly is better than having only one type of credit.

Check back next Friday for another credit tip!

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