03-23-2007 03:09 PM
According to “What’s in Your Score” under this site:
“Number of (presence, prevalence, and recent information on) various types of accounts (credit cards, retail accounts, installment loans, mortgage, consumer finance accounts, etc.)”
The only type of account I have is (two) credit cards. Should I open a retail account? (It sounds like this will help this FICO Score category and because it is a different type of account that credit cards - will not hurt my “Length of Credit History”???)
What are examples of “retail accounts” (Macy’s - I got, but what about an airline credit card or a gas station credit card? Others?)
What is a consumer finance account? I have an account with “Waddell &
Reed” which is an investment company. Should I set up a recurring deposit to them?
03-23-2007 04:54 PM