Using different types of credit

Your score may be lower if you only have one type of credit product, such as a credit card.

It’s better to have a mix of different types of credit, such as:

• a credit card
• a car loan
• a line of credit

A mix of credit products may improve your credit score. Make sure you can pay back any money you borrow. Otherwise, you could end up hurting your score by taking on too much debt.