The other items on your credit report is about 10% of your credit score. These are things such as charge offs, collection accounts, bankruptcies, foreclosure, repossession and other negative things that creditors had to say about you. Then you have is their loan types. Different types of loans are weighed into a credit score of more relevance than others. If you are approved for a mortgage loan your bad credit does not decrease, it increases. Each type of loan, including equity loans are best for increasing your FICO score. Car loans are another good thing to have on your report as long as you do not have car loans too many of your report. This is because auto loans are guaranteed. It’s as if you do not pay not for your house. The bank prevail in foreclosure.

If you do not pay a car loan, the bank will take your car, by the promise. Now, for credit cards, this is a completely different ball game. The Gage creditors your ability to manage your money properly assessing how you pay your credit cards. Credit cards are unsecured money you borrow from a bank. If you apply for a credit card your credit score will be reduced to approve. However, if you pay off your cards on time each month.

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