Can I have good credit with just a mortgage, car loan, and student loan and no credit cards?

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  1. Reply
    April 30, 2011 at 12:50 am

    Of course, but you should eventually apply for a credit card, because they like to see all types of credit.

  2. Reply
    Dr. Gigi
    April 30, 2011 at 12:55 am

    Here is how you increase your credit score.
    7 tips to improve credit score

    1. Pay your bills on time. Your payment history is a major factor (35% of your FICO score) in determining your credit score. If you pay your bills late, or had an account referred to collections, your credit score will take a major hit.

    2. Sign up for online banking and make sure your regular recurring bills are paid automatically. This way you will not forget a payment that will wind up reducing your credit score.

    3. Increase your credit limit. Another large factor is the amount of your debt in relation to your credit limit. If you have a card with a $ 10,000 credit limit and your balance is $ 9,000, this will not help to improve your score. To make the debt/credit limit ratio look better, you can try to call your credit card company and request an increase in your credit limit. Don’t use the extra credit though! That defeats the whole purpose and puts you further in debt!

    4. Don’t apply for many cards at once. This will not improve your credit score because this is a characteristic of high credit risk groups.

  3. Reply
    April 30, 2011 at 12:55 am

    Absolutley, you don’t have to have credit cards! In fact you wouldn’t need it at all because chances are your mortgage and probably your car loan are bigger than a credit card line of credit!

  4. Reply
    April 30, 2011 at 1:30 am

    Yes. As long as they all report to all 3 credit bureau’s.

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