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Raising Credit Scores


augie
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What other types of accounts would help with the depth and overall score on your credit reports besides credit cards? I notice a lot of conversation about credit cards but not much on other types of credit like loans and such. Any suggestions or insights? Anyone? Thanks.

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True credit scores like FICO are built around revolving credit. FICO offers many versions, but most focus on revolving credit.

 

Installment loans are relatively unimportant. It is possible you'll gain nothing in FICO points by adding installment loans.

Edited by SBA
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True credit scores like FICO are built around revolving credit. FICO offers many versions, but most focus on revolving credit.

Installment loans are relatively unimportant. It is possible you'll gain nothing in FICO points by adding installment loans.

 

Except for a Mortgage, Correct?

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