@Scupra wrote:
@Gmood1 wrote:
@Anonymous wrote:
@Gmood1 wrote:
Open a $500 shared secured loan through Alliant for 60 months. http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Adding-an-installment-loan-the-Share-Secure-technique/td-p/4506756
This along with what you've already done will open up many avenues for credit.Thanks Gmood,
I'll look into that. We don't want to wait very long before applying for her first cards and a loan might not be useful to her credit score right away, but for sure in the long run.
You may want to read that thread before you decide it won't make a difference now.lol
It will boost her scores in less than a month. Faster than the more credit cards will.
Too late for this month, as they report on the last day of the month. I've watched two household members scores both jump 15 to 20 points in less than two weeks by just opening the secured loan and following the directions posted in the thread.
Mix of credit is definitely real
+1
My EQ usually runs anywhere from 20 to 30 points lower than TU and EX, and the only difference is both TU and EX have old PIF installment loans still reporting. 
Thanks UncleB! Very good to know. 