How high can my credit score climb if I have only credit cards in my credit history?

Deal Score0

My current credit score is 745 and I’ve built it solely by using credit cards and paying on time (but never had any loans). Somebody told me that the abscence of installement-paid loan will prevent my score from climbing much higher. Is it true? Should I take some consumer loan to boost my credit score since I am planning to apply for a mortgage in the near future?

2 Comments
  1. Reply
    feeln17
    May 21, 2011 at 7:31 am

    try to remember ….that a credit score is based on debt.a fico score. you must stay in debt to have a credit score. it is made up of payment history,charges made, inquireies made.

    the borrower is slave to the lender. you dont need a credit score for anything or a credit cartd either. debit cards work just like credit cards. mortgages can be had from several lenders that do manual underwriting. want to learn how to be debt free? check out http://www.daveramsey.com it will change your life !

  2. Reply
    scottFL007
    May 21, 2011 at 8:16 am

    You don’t need an installment loan. More often than not, they pull you DOWN. Who told you that?

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