I've been looking at the FICO scoring model recently and I noticed that "a good mix of credit" makes up about 10% of the score. What is a good credit mix? Should you have one Visa, MC, Amex, Discover, and a dept. store card to get the optimal mix? Do gold and platinum cards contribute to the mix? What about gas cards? Thanks.
From what I read a good mix consist of revolving accounts, and installment accounts. Most say have 3-4 major credit cards and one retail card give you the optimal mix and having an istallment account mixed in should look nice. Gold and Platinum do nothing as far as scores go.
3 to 4 CC??? Wow, I can't imagine having 4 credit cards. I'm on my second "sub prime" now. Boy, am I behind the times. (
