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Established Contributor
jaybird201
Posts: 672
Registered: ‎07-05-2008
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Good mix of credit, how much does it matter?

Upon reading a post by one of the mods (Can't remember which one...) on some random thread (I know, I'm being very descriptive) they mentioned that if they could "start over" that they would get 1 Visa, 1 Mastercard, 1 AmEx/Discover, 1 retail card and 1 gas card.
 
I recently just applied for a bunch of cards to try to match this set-up. Does it really make a difference though? Credit cards, retail cards, gas cards? They're all "credit" cards. Do they show up as different and give you more mix on your report and give a higher score?
Moderator Emeritus
cheddar
Posts: 6,794
Registered: ‎09-29-2007
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Re: Good mix of credit, how much does it matter?



jaybird201 wrote:
Upon reading a post by one of the mods (Can't remember which one...) on some random thread (I know, I'm being very descriptive) they mentioned that if they could "start over" that they would get 1 Visa, 1 Mastercard, 1 AmEx/Discover, 1 retail card and 1 gas card.
 
I recently just applied for a bunch of cards to try to match this set-up. Does it really make a difference though? Credit cards, retail cards, gas cards? They're all "credit" cards. Do they show up as different and give you more mix on your report and give a higher score?


That sounds like something fused has said in the past.
 
Yes, they are all coded slightly differently, and having at least one retail card and/or gas card (possibly both) will contribute to one's mix of credit, which accounts for 10% of one's score.

 
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