What types of credit accounts are needed to get a high credit score?

August 17, 2010 · Posted in Credit Repair · 11 Comments 

I would like to improve my credit score (it’s about 615) in order to qualify for a mortgage with a low interest rate in about a year or so. I currently have an auto loan and three revolving credit accounts (all bank credit cards). Two of the credit cards are new and the other one is almost a year old. My auto loan will be a year old in a few months. Would my score go up if I apply for more credit? If so what type of credit? What is a good mixture of credit to have to get a higher credit score?

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If I get all three credit reports from annualcreditreport.com at same time will it hurt my credit score?

May 1, 2010 · Posted in Free Credit Report · 5 Comments 

I found out that Equifax had my single mortgage listed twice, thus doubling my mortgage liability. Should I get my other two reports to see if they have the same error or will it lower my credit score?


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How high can my credit score go if I only have credit cards in my credit history?

April 24, 2010 · Posted in Credit Repair · 1 Comment 

My current credit score is 745 and I’ve built it solely by using credit cards and paying on time (but never had any loans). Somebody told me that the absence of installment loans will prevent my score from climbing much higher. Is it true? Should I take some consumer loan to boost my credit score since I am planning to apply for a mortgage in the near future?


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