Which loan should I apply for?

[Anonymous]

On my credit report it advised that I should look into a loan or line of credit so I can have a variety of credit types.

I recently opened many credit cards so I won't be applying for anymore. Later, I will apply for loans but am unsure which line of credit or who I should apply with. 

I have a thin credit file but a fico score of about 700-720. I have AmEx, Chase, Bank of America, Citi, Target, Capital One, and some others just to name a few. 

Any suggestions would be great. Thank you! 

[Grafton88]

I got a shares saving's loan from my credit union.  They take money from your shares savings account and put it on hold.  They then lend you that amount and deposit it in your checking acount.  I did it with $500.  That money was immediately put in my checking account so I had instant use of that money.

It reported on my credit report as an installment loan.  They only charge 2% interest on the loan.  It was a good deal for me.

[takeshi74]

Your file isn't that thin if you have what you've listed and more.  There are those that open small share secured loans for scoring purposes if they don't have any installments and you can refer to prior discussions if you're interested in doing that.

https://www.google.com/webhp?sourceid=chrome-instant&ion=1&espv=2&es_th=1&ie=UTF-8#tbs=qdr:y&q=share...

I'd suggest not opening an account solely for scoring purposes and letting your financial needs dictate when you apply for a loan.  Keep in mind that Credit Mix is typically ~10% and that opening a new account also has an impact (lowered AAoA, hard pull).

http://www.myfico.com/crediteducation/whatsinyourscore.aspx 

[Grafton88]

My loan with NFCU was not a hard pull.