FICO Score Breakdown (i.e., "Credit Mix")
12-11-2012 04:38 AM
Overall, I'm very satisfied w/ my FICO score (817 as of today).
Based on existing literature, I know how the FICO score breaks down (i.e., 35% Payment History, 30% Amounts Owed, 15% Length of Credit History, 10% New Credit, 10% Types of Credit or "Other").
My question is pertaining the 10% of "Credit Mix". Based on my most recent credit report, I score "Excellent" on all categories but only "Fair" on the credit mix.
From my perspective (and I think it's somewhat reflected in my high score), I have a good credit mix. That is, I have the following type of credit account:
- 2 mortgage accounts (mortgage and home equity) -- approximately 90% of my debt
- 2 installment accounts (car loans) -- approximately 9% of my debt
- 10 credit cards (only 1 card with a balance) -- approximately 1% of my debt
Based on the information above, is there anything obvious that "sticks out" as to why the "credit mix" is considered only "fair" (again, in contrast to all else being excellent)?