topic Re: What's the best mix to have? in General Credit Topics

What's the best mix to have?

Anonymous — Thu, 14 Jun 2007 20:16:06 GMT

After reading the post about insurance credit scoring and how the insurance companies didn't like to department store cards but really like to see Gas/oil company cards, it made me rethink how I should approach getting new TL's. After my car loan I was going to try for a Target card since I love Target, but if that's going to hurt my insurace rating, I guess I'll pass and apply for Mobil or something instead. What's the best all around mix of cards to have. Is there some kind of magic number that works well with credit scores? How do you know when you have too many open TL's?

Re: What's the best mix to have?

Tuscani — Thu, 14 Jun 2007 21:05:27 GMT

IMO, a good credit mix is at least one TL from each of the four major categories:

-Open
-Revolving
-Installment
-Mortgage

Re: What's the best mix to have?

Anonymous — Thu, 14 Jun 2007 21:35:02 GMT

I like a dry gin with just a hint of vermouth.

Re: What's the best mix to have?

Anonymous — Thu, 14 Jun 2007 21:36:41 GMT

Margarita

Re: What's the best mix to have?

Anonymous — Thu, 14 Jun 2007 21:38:03 GMT

jaguls66 wrote:
Margarita

Creditcardarita

Re: What's the best mix to have?

Anonymous — Thu, 14 Jun 2007 22:24:49 GMT

@Anonymous wrote:
insurance companies didn't like to department store cards but really like to see Gas/oil company cards

Can someone please direct me to the thread about this. I didn't know their was a difference between gas vs retail. I thought gas was retail. Thanks.

Re: What's the best mix to have?

Anonymous — Fri, 15 Jun 2007 03:03:13 GMT

Thanks... y'all are a real big help.

masdeocho wrote:
I like a dry gin with just a hint of vermouth.

Re: What's the best mix to have?

Anonymous — Fri, 15 Jun 2007 03:08:34 GMT

It was a link on the post about Geico jacking up insurance rates. Here's the link that I found the story about what insurance companies liked for scoring.

http://www.consumerreports.org/cro/personal-finance/car-insurance-8-06/overview/0608_car-insurance_ov.htm

By the way, how come whenever I see your name I want to call Domino's?

@Anonymous wrote:

@Anonymous wrote:
insurance companies didn't like to department store cards but really like to see Gas/oil company cards

Can someone please direct me to the thread about this. I didn't know their was a difference between gas vs retail. I thought gas was retail. Thanks.

Re: What's the best mix to have?

Anonymous — Fri, 15 Jun 2007 07:05:30 GMT

@Anonymous wrote:
how come whenever I see your name I want to call Domino's?

Hehe. I think a lot about Ellios from the food store. Lower in fat and salt. That link ROCKED!!! Thank you very much. Does the site say anything about boosting your credit score in general besides auto scoring models. I wonder if retail cards are bad, or just bad for auto models?

Message Edited by ilovepizza on 06-15-2007 12:05 AM

Re: What's the best mix to have?

Tuscani — Fri, 15 Jun 2007 12:45:08 GMT

@Anonymous wrote:

@Anonymous wrote:

how come whenever I see your name I want to call Domino's?

Hehe. I think a lot about Ellios from the food store. Lower in fat and salt. That link ROCKED!!! Thank you very much. Does the site say anything about boosting your credit score in general besides auto scoring models. I wonder if retail cards are bad, or just bad for auto models?

Message Edited by ilovepizza on 06-15-2007 12:05 AM

Retail\Store cards are not bad, but bankcards hold more weight.

Re: What's the best mix to have?

Anonymous — Fri, 15 Jun 2007 12:56:30 GMT

You're welcome. I can't take credit for it though. I believe it was MidnightVoice that posted it originally. I didn't see anything out there about boosting your credit score, but it may very well be there somewhere if you search.

ilovepizza wrote:
That link ROCKED!!! Thank you very much. Does the site say anything about boosting your credit score in general besides auto scoring models. I wonder if retail cards are bad, or just bad for auto models?

Message Edited by ilovepizza on 06-15-2007 12:05 AM

Re: What's the best mix to have?

lwill023 — Thu, 06 Dec 2007 16:23:47 GMT

With GE Money taking over Chevron cards, will a chevron card still be considered an oil company card?