Understanding FICO® Scoring

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tblank65
Posts: 53
Registered: ‎02-23-2009

mix of credit?

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‎12-31-2009 06:22 AM

looking at the myfico chart on how it is figured and being at a 680 eq and 670 trans but my mix is only 3 active credit card tradelines being 4yrs 2yrs and 6 months old and credit mix being 10% am I being held down due to mix?
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Jazzzy
Posts: 2,597
Registered: ‎07-29-2009

Re: mix of credit?

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‎12-31-2009 05:39 PM

Hi...I'm not sure what you mean by your credit mix being 10%. Do you mean that your utilization of credit is 10%?

 

Credit mix usually refers to having revolving credit (credit cards), installment loans, and a mortgage.

 

You have fairly new accounts, and that is a factor for you. Do you have any negative items on your credit reports?

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myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

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