The Type of Credit You Have

It is reported that this category can have a 10% influence on your overall credit score. A good mix of different types of credit is what counts, but it is not clear just what is considered a good mix.

As a rule of thumb, you should have both types of credit on your credit report, revolving and installment. Having both a credit card and a car loan will reflect much better on you than just having a credit card.

Keep in mind, that when it comes to credit scores, not all credit cards are the same. Visa, Master Card, American Express, Discover, and other major credit cards are much better than department store cards.