What credit types does FICO consider?
- Installment loans, including auto loans, student loans and furniture purchases.
- Mortgage loans.
- Bank credit cards.
- Retail credit cards.
- Gas station credit cards.
- Unpaid loans taken on by collection agencies or debt buyers.
- Rental data.
Credit mix: Diversity helps your credit score – CreditCards.com
What is loan and types?
A loan is when you receive money from a friend, bank or financial institution in exchange for future repayment of the principal and interest. They can be unsecured, like a personal loan or cash advance loan, or they may be secured, like a mortgage or home equity line.
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