How high can my credit score climb if I have only credit cards in my credit history?
leanora asked:
My current credit score is 745 and I’ve built it solely by using credit cards and paying on time (but never had any loans). Somebody told me that the abscence of installement-paid loan will prevent my score from climbing much higher. Is it true? Should I take some consumer loan to boost my credit score since I am planning to apply for a mortgage in the near future?
Sara
My current credit score is 745 and I’ve built it solely by using credit cards and paying on time (but never had any loans). Somebody told me that the abscence of installement-paid loan will prevent my score from climbing much higher. Is it true? Should I take some consumer loan to boost my credit score since I am planning to apply for a mortgage in the near future?
Sara
Tags: Current, Mortgage, Paying On Time
September 1st, 2009 at 8:24 am
You don’t need an installment loan. More often than not, they pull you DOWN. Who told you that?
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