Why Store Card in mix for best FICO

[Anonymous]

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@Anonymous wrote:

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@Creditaddict wrote:

a good mix accounts for 10%

for what ever reason, adding 1 store card or gas card boosts your score just a little bit if you didn't have that mix before. 

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Are you sure? When I opened up my 1st store card, I lost 35points lol.

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There might have been an issue of new age of accounts, revolving debt, so on and so forth, it shoudl have recovered quickly though, did it not?

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

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@Creditaddict wrote:

a good mix accounts for 10%

for what ever reason, adding 1 store card or gas card boosts your score just a little bit if you didn't have that mix before. 

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Are you sure? When I opened up my 1st store card, I lost 35points lol.

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There might have been an issue of new age of accounts, revolving debt, so on and so forth, it shoudl have recovered quickly though, did it not?

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Age of accounts.. possibly. My avg age of credit history is a year while my longest is 2 yrs on my student CC. As for revolving debt..barely 3% that time. Did it recover quickly? Yes because I just paid off a personal loan which gave me 24 points. But if I didint pay off the personal loan..hmm not sure if it would have recovered quickly. 

[score_building]

that could be though paying off an installment loan would not typically be a point gusher, a bucket shift is another possibility, ymmv, in any case, nice 20 plus point gain!

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@Anonymous wrote:

Age of accounts.. possibly. My avg age of credit history is a year while my longest is 2 yrs on my student CC. As for revolving debt..barely 3% that time. Did it recover quickly? Yes because I just paid off a personal loan which gave me 24 points. But if I didint pay off the personal loan..hmm not sure if it would have recovered quickly. 

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