"Exceptional" Credit Mix...but it doesn't make sense...

[DXness]

I like to think I understand FICO scores pretty well, but this one is odd.  I checked on EX and noticed my rating for mix moved from "Very Good" to "Exceptional" and the only thing that changed was going from 6 revolvers to 7.  My mix is 7 revolvers of which all are regular bankcards and 8 student loans with no car loan or mortage.  I am aware that the text ratings don't really mean anything at best and are marketing to push you into adding more cards at worst (CK calls this "Fair" lol), but I'd still like to think an exceptional mix means something vs a very good mix.  I also wouldn't think it would take 7 and 8 to reach that since you supposedly are mostly set with 3 revolvers and 1 installment loan.  Then again there are clearly things I just don't understand about credit mix.

[Varsity_Lu]

@DXness 

Ha! My wife and I both sit at Very Good and we only have revolvers. No loans at all. No mortgage, auto, student, or otherwise. I don't see how that is a very good credit mix but I'll take it.

[Thomas_Thumb]

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@DXness wrote:

I like to think I understand FICO scores pretty well, but this one is odd.  I checked on EX and noticed my rating for mix moved from "Very Good" to "Exceptional" and the only thing that changed was going from 6 revolvers to 7.  My mix is 7 revolvers of which all are regular bankcards and 8 student loans with no car loan or mortage.  I am aware that the text ratings don't really mean anything at best and are marketing to push you into adding more cards at worst (CK calls this "Fair" lol).

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You are right, the rating is not much more than a loose classification not directly related to score.

Critical mass is vital to reaching an exceptional classification. Your new CC acount put you over the Fico defined threshold. Of course, a combination of open revolving and installment accounts is necessary as well. Mix is not dependent on type of installment accounts.

VantageScore wants to see a boatload of accounts - more than 20 for top billing. That model may differentiate between types of accounts and look for greater variety as well as QTY when assigning a mix rating. I do know my CK VS3 rating fell from good to poor when I dropped to 9 accounts on file.

[FicoMike0]

So, you had a mix of 6 revolvers and 8 installment loans, by increasing to 7/8 you moved to exceptional. Good data point.

Mine shows exceptional with 9 open, 3 closed revolving and 1 open 1 closed installment. My credit age is another story and getting worse when the closed revolving accounts, which are the oldest, fall off.