What is a good credit mix for max fico score?

[Junejer]

krystofur, are you in WI? This sounds an aweful lot like my reporting (Utility reporting to TU only). Got some furniture years ago at Colder's (Am Gen financed it). I took it b/c I got 0% for a period of time. I paid it off, before it would charge interest. I did the same thing about four years ago w/Ashley and got citifinancial on my CBs.

When I found out that fico doesn't like CFLs, I disputed them (they were never late). Citi came off, AmGen remains (maybe wasn't the brightest thing, but I didn't want them on my reports). In fact, they have updated when I disputed them and the devil (EX) shows that they will remain for another 10 years. That can't be right (they were closed in 2001).

[Anonymous]

I deposited 1000 bucks into my savings and told the manager I was trying to re-establish credit. I asked if I could do a secured loan against it and they got it all set up for me. She also told me to pay on it for atleast 6 months, although she set it up for a 2 year term. I didn't have any installment accounts, so, it helped me without going to a finance company. (Who have been hounding me to go apply for their loans! NO THANKS!!)

[haulingthescoreup]

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@Anonymous wrote:

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@haulingthescoreup wrote:
A snotty comment from FICO found on reports:

Consumer finance account: Only 12% of FICO High Achievers have a consumer finance account.

I have a WFF loan on my reports, and I haven't gotten this comment, but others here have. (I think that's because FICO is too busy carping about my lates.)

From what I've seen, they don't hurt all that much, but for people getting ready to get a loan, these should be avoided.

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Interesting, thanks. I haven't received this comment yet either. Any idea if FICO cares if the account is open or not? I'll see what happens when I pay off one of my CFA's but I'm trying not to spend a lot on scores so it may be awhile before I find out.

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No, it's still a mystery to me as well. Mine was paid off in 10 months. Like I said, I don't think it's a huge ding. Just useful to know in the future if you have to shake the money tree.

[Anonymous]

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ByrdMan wrote:
krystofur, are you in WI? This sounds an aweful lot like my reporting (Utility reporting to TU only). Got some furniture years ago at Colder's (Am Gen financed it). I took it b/c I got 0% for a period of time. I paid it off, before it would charge interest. I did the same thing about four years ago w/Ashley and got citifinancial on my CBs.

When I found out that fico doesn't like CFLs, I disputed them (they were never late). Citi came off, AmGen remains (maybe wasn't the brightest thing, but I didn't want them on my reports). In fact, they have updated when I disputed them and the devil (EX) shows that they will remain for another 10 years. That can't be right (they were closed in 2001).

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Yup.

And I actually have three of them now that I think about it.  I did a funiture thing with Am Gen way back that still shows on my CR's.  And here I was thinking it was helping me for it's length of history.  Maybe it's a wash, but I'm not going to worry about it.  As I reminded someone else in another post, crediters, if they report, are required to report correct info, even if we don't always like it.

[Junejer]

Well, it doesn't seem to be hurting your scores. I don't know if it was hurting my score or not. I suppose I will find out. It's supposed to report on my report for the next 10 years now times 2. Maybe it's beyond the point of hurting me since it is so old (opened 12/99).

[BeatingtheSystem]

I have a total of eight (8) revolving credit accounts.  Three (3) of these accounts are with HSBC:  HSBC RS account for 4-wheeler ($6k bal / $11.9k cl); HSBC account for motorcycle ($2.7k bal / $11k cl); HSBC account through Petland ($1.3k bal / $3.3k cl).  Are accounts with HSBC considered personal finance loans?  If so, how much is this hurting my credit scores?

my scores currently range from 680 to 700.