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Credit Scores Can Be Counterintuitive

Friday, March 25, 2011 - 6:33 AM
The Ask Mr Credit Card blog provides some tips to raise your credit score that are counterintuitive:
By having several credit cards, you are able to show you have a long credit history with many borrowers.

Having several cards can also help your credit utilization ratio. The post also mentions having a car loan can help if it doesn't have too much effect on your credit utilization:
Not having a car payment hurts the variety of credit that I have, yet not owing that money helps my credit utilization.

Ken TuminKen Tumin5,472 posts since
Nov 29, 2009
Rep Points: 125,708