This one posed by a friend. Her reports say that she does not have enough debt experience, or a good credit mix. She has one auto loan recently PIF, a coouople of paid off finance cos, and a student loan, The rest of the credit is revolving and she is not yet ready to purchase a home. One portion of her score dings her for too many accounts recently opened the other advises her to open another acocunt for experience. Is there a type of account she should open to take this factor off her reports?
Are the student loans, finance companies and AUto loans all installment or are they weighed differently? If so since the finance companies are all paid off years ago, should she get another finance co loan. Shes gone to her bank for a personal loan but was told they no longer offer those except for home equity lines of credit.