Why do you have to go deeper in debt and open more credit accounts to improve your score?

[mitchblue]

Not sure that's exactly what he said . I paid off a car over two years ago, still few miles so makes no sense to get a new car. You can have very good scores without a loan..so don't get a car loan because you read somewhere you should. I mean I don't think you need an 800 or higher score to get CC or a mortgage down the line. Even for best rates. 

What you're doing now is fine. 

[Kenny]

People have had an 800 score with only 3 cards.. it's very possible. No one needs to go "deeper into debt and open more credit accounts" in order to maximize your scores.

[Gunnar419]

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@mitchblue wrote:

Not sure that's exactly what he said . I paid off a car over two years ago, still few miles so makes no sense to get a new car. You can have very good scores without a loan..so don't get a car loan because you read somewhere you should. I mean I don't think you need an 800 or higher score to get CC or a mortgage down the line. Even for best rates. 

What you're doing now is fine. 

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Exactly. My scores are all in the low 800s with no auto loan, mortgage, or installment loans of any sort.

Yes, when you get your scores they'll always list some "negative" like "lack of installment loans" or whatever. But that's just because they always have to list something. Ignore it and just focus on managing the credit you have.

You don't HAVE to go into debt to have a good credit score.