topic Re: Credit Mix Question in Understanding FICO® Scoring

Credit Mix Question

Twotimesacharm — Thu, 01 Apr 2021 01:17:59 GMT

I recently became a member of NFCU and they gave me a pretty decent SL with their lowest interest rate on the more rewards card.

I have a 4 credit cards, a mortgage, and a student loan.

I paid off my car loans in 2018 and 2020.

Would a SSL through Navy help my score at all, or do the mortgage and student loans already count?

Re: Credit Mix Question

dragontears — Thu, 01 Apr 2021 01:24:06 GMT

@Twotimesacharm wrote:
I recently became a member of NFCU and they gave me a pretty decent SL with their lowest interest rate on the more rewards card.

I have a 4 credit cards, a mortgage, and a student loan.

I paid off my car loans in 2018 and 2020.

Would a SSL through Navy help my score at all, or do the mortgage and student loans already count?

Mortgage and student loans count, an SSL will not help your scores

Re: Credit Mix Question

AllZero — Thu, 01 Apr 2021 01:24:59 GMT

@Twotimesacharm wrote:
I recently became a member of NFCU and they gave me a pretty decent SL with their lowest interest rate on the more rewards card.

I have a 4 credit cards, a mortgage, and a student loan.

I paid off my car loans in 2018 and 2020.

Would a SSL through Navy help my score at all, or do the mortgage and student loans already count?

No, you're solid on the open installment loan(s). The SSL would be redundant to your needs.

Re: Credit Mix Question

Twotimesacharm — Thu, 01 Apr 2021 01:41:19 GMT

Thank you both