Skyrocket Your Score With Simple Credit Hacks
Leverage Credit Mix and New Credit
Diversifying your credit mix can also positively impact your score. Having a combination of credit types, such as credit cards, installment loans, and retail accounts, shows lenders that you can manage different kinds of credit responsibly3.
Be cautious with new credit applications, as each hard inquiry can slightly lower your score. However, strategically opening new accounts to improve your credit mix or increase your available credit can be beneficial in the long term. Just ensure you can manage the additional credit responsibly.