Credit mix
Credit mix is the variety of credit types you have — such as credit cards alongside installment loans — and it makes up about 10% of your FICO score.
Why it matters
Having a mix of revolving and installment accounts can help a little, but it's a minor factor, so you should never take on debt just to diversify your mix.
Example
Someone with a credit card plus an auto or student loan shows a more varied mix than someone with cards only, though the difference is a small part of the score.
Learn more
Educational only — not financial advice. No guarantees.