Credit ratings echo your own overall the debt, and the version of borrowing from the bank you have got

Complete personal debt and borrowing combine. This new FICO credit rating system will favor users with lots of borrowing membership, and you will a mixture of revolving credit (membership eg credit cards, one credit within a certain borrowing limit) and you may repayment borrowing (loans like mortgages and you may car loans, that have an appartment amount of repaired monthly obligations). When you yourself have just one sorts of borrowing from the bank membership, broadening your profile may help your credit rating.