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Credit Scores Can Be Counterintuitive

Ken Tumin
Ken Tumin   |     |   5,936 posts since 2009

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.