MAKES UP 10 OF YOUR CReDIT SCORE
When applying for credit and determining your credit score one of the lessor but still important factors is your credit mix. When we refer to credit mix we mean the type of accounts that are on your credit report. Creditors look for a variety of credit accounts on your credit report to determine if you are a sustainably credit risk or not.
- Types of accounts considered are:
- Credit cards and revolving credit accounts, including store cards.
- Auto Loans – new, used, and refinance loans
- Student Loans – public and private
- Personal Loans – Unsecured
- Secured Loans
- Mortgages