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What exactly is a Credit Mix and just how did it influence Credit Scores?

What exactly is a Credit Mix and just how did it influence Credit Scores?

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Features:

  • A credit mix relates to the various kinds of credit reports you have got
  • The effect of the credit mix on your own fico scores differs, with regards to the credit scoring model utilized
  • Loan providers and creditors generally need to know the way you have actually handled several types of records in the long run

You may not know what a “credit mix” means – or how having different types of credit may affect your credit scores whether you’ve already established a credit history or you’re wondering how to get started building one.