Is there a small detailed list of what FICO considers types of mixed credit? I know of auto, mortgage, installment and revolving. I was curious as to types of revolving, for instance, does a charge card help with the mix? If it is considered and scored the same as revolving then I am going to try and have my new $250 charge card tradeline removed. It would help my AAoA some. Thanks.
How Many Types of Mixed Credit?
Started by
Saleen
, Aug 21 2012 09:31 AM
8 replies to this topic
#1
Posted 21 August 2012 - 09:31 AM
#2
Posted 21 August 2012 - 09:33 AM
beyond FICO, internal scores and manual reviews might look favorably on charge cards and "upscale" retail cards.
http://creditboards....pic=347063&st=0
http://creditboards....pic=347063&st=0
#3
Posted 21 August 2012 - 09:48 AM
Thanks. The link BW had posted of listings will not work. I was going to see if my card was considered Upscale. It is a WFNNB Abercrombie & Fitch card for $250, whatcha think, hegemony?
#4
Posted 21 August 2012 - 08:56 PM
I was told early on during rebuilding my credit that store cards (Kohls, Target, Walmart, etc) are generally regarded as mediocre credit. Regardless of limit.
A few years back a citi rep actually suggested I close down my Target card and try to get in with another big bank first.
I've followed advice on here and gotten a nice line of credit, multiple credit cards and a student loan. My scores have improved since this little mixture.
A few years back a citi rep actually suggested I close down my Target card and try to get in with another big bank first.
I've followed advice on here and gotten a nice line of credit, multiple credit cards and a student loan. My scores have improved since this little mixture.
#5
Posted 22 August 2012 - 10:08 AM
I was told early on during rebuilding my credit that store cards (Kohls, Target, Walmart, etc) are generally regarded as mediocre credit. Regardless of limit.
A few years back a citi rep actually suggested I close down my Target card and try to get in with another big bank first.
I've followed advice on here and gotten a nice line of credit, multiple credit cards and a student loan. My scores have improved since this little mixture.
the only issue with most store cards is the generally low limits given. I would not trade 5% off all store purchases just to make some CSR at citi happy
#6
Posted 22 August 2012 - 10:20 AM
I bet the Citi guy would change his tune if you had a Home Depot card.
#7
Posted 22 August 2012 - 10:25 AM
I was told early on during rebuilding my credit that store cards (Kohls, Target, Walmart, etc) are generally regarded as mediocre credit. Regardless of limit.
A few years back a citi rep actually suggested I close down my Target card and try to get in with another big bank first.
I've followed advice on here and gotten a nice line of credit, multiple credit cards and a student loan. My scores have improved since this little mixture.
Also worth mentioning that not all store cards are necessarily created equal. My understanding is the definition of a store card is a card that can only be used at a particular store/chain, however some store cards are issued by banks/institutions that also issue cards under the major networks and some even issue prime cards. So it really depend on how it shows up on your credit reports as to how its going to be taken, also there can be a difference how a trade line looks to a computer vs a human during a manual review.
Example that comes to mind is Nordstroms issues their store card, but they also issue a Visa Sig Card. While i've never had ether it would make sense that they both might look rather similar if not exactly the same when they make it to your credit report.
#8
Posted 22 August 2012 - 10:28 AM
very well putI bet the Citi guy would change his tune if you had a Home Depot card.
#9
Posted 22 August 2012 - 01:03 PM
I bet the Citi guy would change his tune if you had a Home Depot card.
I bet you're right.
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