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Valued Member
Posts: 47
Registered: ‎03-17-2013
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Types of credit accounts/Account mix

[ Edited ]

I don't understand this one, I have 5 credit cards and 1 student loan. What how many types of accounts that fico scores consider?

 

Is it installment accounts (student, mortgage, auto, personal), revolving accounts (credit card, prepaid cards, retail credit card), and so just 2 different account types or are there more types and/or are auto loans, mortgages, auto loans all separate, etc.

 

Please help. Thanks in advance.

 

http://www.myfico.com/CreditEducation/WhatsInYourScore.aspx

http://www.myfico.com/CreditEducation/Types-of-Credit.aspx

http://www.myfico.com/Downloads/Files/myFICO_UYFS_Booklet.pdf page 14/20



Starting Score: 03/17/2013 665 EQ 01/09/2013 EX 724 TU 739?
Current Score: 03/27/2013 682 EQ 01
Goal Score: 850 all three FICO scores, 900 Vantage score, max insurance scores, etc.


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Posts: 22,406
Registered: ‎01-17-2008
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Re: Types of credit accounts/Account mix

You have an installment and revolving, that is a credit mix.  There are other types of installment also.  Lots of people don't have mortgages or auto loans and they have high scores.  Others don't have credit cards and have high scores.

 

Are you being told you don't have the correct mix or just wondering.

Valued Member
Posts: 47
Registered: ‎03-17-2013
0

Re: Types of credit accounts/Account mix

I am trying to have a perfect mix of credit. I know credit.com does not give a FICO score, they do give estimates for fico and vantage though. They give me a C- for my account mix. And creditkarma says having 21+ accounts is good, I doubt I will get that many accounts, but according to myfico they say having experience with different types of loan terms . I am not worried about my AAoAs since I am pretty young (21). Incase you want to know, my total length of credit is 1yr 7 months, and AAoAs is 10 months.



Starting Score: 03/17/2013 665 EQ 01/09/2013 EX 724 TU 739?
Current Score: 03/27/2013 682 EQ 01
Goal Score: 850 all three FICO scores, 900 Vantage score, max insurance scores, etc.


Take the myFICO Fitness Challenge

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