Credit education

Types of Credit Used

Your credit mix makes up about 10% of your FICO score. Having several credit cards shows you can handle revolving credit, but many lenders also like to see how you manage other types of accounts. This is called your "credit mix," and it can include:

Credit cards
Retail accounts
Installment loans (car loans, student loans and personal loans)
Mortgages

NOTE: Build your mix slowly, and only take on credit you actually need. Opening several accounts at once adds hard inquiries and lowers your average account age.

Credit mix and building credit

If you're new to credit or rebuilding, the right mix can help your score grow faster. Learn about newly established credit, tradelines and our best credit-building products, or talk with our team in a free consultation.

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Credit Score Basics

How credit scores work, what counts as a good credit score, and the five factors that make up your FICO score, explained by The Credit Lion.

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Credit and Payment History

Payment history is about 35% of your FICO score. Learn how late payments, collections and public records affect your credit, and how to protect your score.

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The Amounts You Owe

Amounts owed and credit utilization make up about 30% of your FICO score. Learn the 30% rule and the fastest ways to lower your utilization and improve your score.

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