Credit Mix: The Quiet 10%

Credit mix is the variety of account types you carry - revolving accounts like cards plus installment loans like auto, student, or mortgage debt. It is roughly 10% of a FICO score.

Why it matters

Mix matters least of the five score factors, which makes it the most abused: people take loans they do not need to 'improve mix.' Understand it so nobody sells you debt as a vitamin.

Key facts

• FICO weighs five categories: payment history 35%, amounts owed 30%, length of history 15%, new credit 10%, mix 10%.
• You can reach excellent scores with cards alone; mix is a tiebreaker, not a requirement.
• Credit-builder loans exist to add installment history cheaply, usually $300-$1,000 held in a locked savings account.
• Closing your only installment loan can trim a few points; the effect is small and temporary.

In practice

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