The variety of your credit accounts, also known as your account diversity, is one of the five criteria that FICO measures when calculating your credit score. This segment makes up 10 percent of the points in your score.
In order to earn as many points out of this category as possible you need to have a diverse credit history. Diverse in this case means a little bit of many different types of accounts including credit cards, car loans, student loans, and mortgages. The only type of account that can be unhealthy for your credit scores is a finance company account.
Search the Knowledgebase
Browse by Category
The article has been updated successfully.
