Improving FICO Credit Score With Mix of Credit Types

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6 posts
Michael
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Improving FICO Credit Score With Mix of Credit Types

Postby Michael » Thu Oct 31, 2013 9:49 am

My wife and I both received our credit scores.

Hers is 820 and mine is 786.

However, both of us received an 'F' in variety (mix) of accounts. We each have about 38 credit accounts and two accounts of another type.

The credit accounts include all credit cards over the years, some of which are closed and still reporting for the required 10 years.

The 'other' accounts are two car loans, one paid off and one I just took out.

All other categories (mix, payment history, utilization, etc.) are graded as "A" or A+."

What, if anything, can we do to raise the 'F" categorY? :confused:


MemberSince99
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Postby MemberSince99 » Thu Oct 31, 2013 10:12 am

I'm not sure why you even care about that? You both have excellent credit, who cares if they don't think you have the "optimal" mix? I mean do you really believe there is a single soul on the planet who is going to say "Oh gee your wife has an 820 FICO but she doesn't have enough installment loans so we won't give her credit she must be a deadbeat"? If you don't need installment credit, don't use it, and don't worry about that grade, frankly you are doing it right. Increasing your score above 820 or even 786 has NO practical use except for ego purposes. The worst thing you can do is open installment loans you don't need or worry about silly stuff like this.

Keep doing what you are doing, you're doing it right and doing great, and don't worry about that, it's not important.

Michael
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Postby Michael » Thu Oct 31, 2013 10:45 am

Thank you for taking the time to respond.

I won't worry about it.

Have a nice day !!

Michael :)

MemberSince99
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Postby MemberSince99 » Thu Oct 31, 2013 3:07 pm

By the way I'm glad you didn't take that wrong, reading it later I thought if someone didn't know my meaning they might take this as me being a jerk, but I only meant to say that you are doing just terrific and that this is nothing to be concerned about. Thank you for not reading it the wrong way :)

Michael
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Postby Michael » Thu Oct 31, 2013 3:29 pm

You're welcome. :D

tigerowl06
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Postby tigerowl06 » Fri Nov 01, 2013 12:20 am

You need to buy several houses with loans from the bank. That will improve your credit mix. :D
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