I think you are perfectly fine where you are and you have gotten yourself off to a great start. You will have three tradelines reporting now, and in just a few months that will look excellent to a lot of other lenders.
Could you tell us more about your age and where you are in life (full time job, student, stay at home parent, etc.) before I recommend an installment loan?
The reason I ask is that a lot of time young people get caught up on building credit, but as life progresses credit often comes to them. So, college students often get student loans, which count as installment debt, or buy a car during or soon after school. These are typical parts of growing up, and so there's no need to rush out and get installment debt for these people, because it just comes to them.
However, if you are past that age in life, and maybe looking towards a mortgage in the future, my advice would be different. Perhaps a secured or unsecured personal loan would help your mix of credit. Or, if your car is getting older, looking into financing one in the next year or so would help. But whatever you do, do not burden yourself with unnecessary debt for the credit "game". Stick to what you can afford, and worry about the score later. Your credit card tradelines will provide all of the history you really need, anything additional is just icing on the cake.
Could you tell us more about your age and where you are in life (full time job, student, stay at home parent, etc.) before I recommend an installment loan?
The reason I ask is that a lot of time young people get caught up on building credit, but as life progresses credit often comes to them. So, college students often get student loans, which count as installment debt, or buy a car during or soon after school. These are typical parts of growing up, and so there's no need to rush out and get installment debt for these people, because it just comes to them.
However, if you are past that age in life, and maybe looking towards a mortgage in the future, my advice would be different. Perhaps a secured or unsecured personal loan would help your mix of credit. Or, if your car is getting older, looking into financing one in the next year or so would help. But whatever you do, do not burden yourself with unnecessary debt for the credit "game". Stick to what you can afford, and worry about the score later. Your credit card tradelines will provide all of the history you really need, anything additional is just icing on the cake.
