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Question By
aziansun

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Does owning different types of credit cards improve your credit score?
I have a good credit score and I already have an amex and visa card in my name which I pay off each month. I am considering to apply for a master card because I heard that it improves credit by having a variety of credit cards in good standing. Is this true?

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Aziansun, I think you are referring to having a good mix of types of credit, not types of cards.  Your mix of credit counts for 10% of your FICO score.  Having different kinds of accounts is good, it shows you know how to handle different types of credit.  This means in addition to credit cards, you may have a personal loan, a mortgage, car loan, etc.  Jwsister is right, that is what this site is about, be sur to read Articles at the left of this screen, and if you scroll all the way to the bottom there is More Info.  If you want to learn more about FICO scores, visit myfico.com.  Best of luck!

Reply by
aziansun

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Thanks Addison and jwsister!

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Doesn't matter which cards you have, but how much total available credit and how you use it.  The credit story is well explained in the articles on this site and you can see for yourself (harmlessly) how certain actions by you may affect your credit when you use some of the financial tools provided here.  That is what Credit Karma is all about...helping people learn how to build and maintain a good credit score by proper use of credit.

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