Quick Answer
Credit mix refers to the variety of credit types on a file - typically a smaller factor (~10%) but one that rewards having both revolving and installment accounts.
Key Takeaways
- A mix of revolving and installment usually scores better than only one type.
- Mix is a small factor.
- Opening accounts solely for mix is rarely recommended.
When to Add to the Mix
Most educational sources suggest adding new accounts only when there is a genuine financial need - not solely to improve mix.
Frequently Asked Questions
How much does credit mix matter?
Educational sources commonly reference around 10% of FICO score weight, which makes it noticeable but not dominant.