A lot of people still do not understand the other certain information on their credit report. There are two things that a lot are not aware of. The first thing is that there are certain accounts, that even though you went through a bank on, are coded as a finance company. This is also credit risk code #6 which will have some what of a negative impact on the score. The other thing is the risk codes that in the credit report when a lender uses them. It shows the codes but it does not state what they are. And in regards to the credit report they are the factors in why your credit rating is lower. You definitely do not want # 39 or #40 because they relate to a collection account, bankruptcy, public record. etc. #19 date of last inquiry is too recent. Or #11 amount owed on revolving accounts is too high. Help is not too far away. There could be a book or publishing that will list what creditors & their types of accounts are coded as a fiance company. Regardless of what information that you do obtain you will still need to do certain things in order to get a high credit rating on on your report. These includes no adverse information, allowing your accounts to age, minimal or no inquiries, 0-9% utilization on each credit card or the overall credit card accounts combined together. So even if you knew everything you would still have to wait for the accounts to age and so & so forth. One last note, having an open installment loan with an open revolving account will give you a better credit rating compared to if you just had the credit card by itself. But is also depends on what other things are on your credit report such as mixes of the different types of credit.
