Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Credit Report
Profile Image

Question By
JeremyC1983

0 Contributions
0 People Helped
Credit Mix - Opening up secured credit card, I'd likr ideas for getting different types of credit
I have a credit score of 488, Im opening up a secured credit card, but I'd like more ideas for getting different types of credit, to improve Types Of Credit part of the fico score. I obviously can't get approved for any type of loan, and I don't need a car. Is there a 2nd type of secured credit card or installment loan that might show up as a personal loan or something? Thanks and have a great day!

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
988 Contributions
550 People Helped

Keep the relative weights of the factors in mind.  Credit Mix is a small factor.  Work on the big factors first.  If you have derogs then address them as they tend to have a major impact, kill your Payment History and tend to hold your scores down as long as they are on your reports.  If your revolving utilization is high then get it down as it impacts Amounts Owed, the next biggest factor.  Don't sweat over the small stuff at this stage.  Add types of credit as your financial needs dictate.  Don't just add them for scoring purposes.

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.