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Installment credit


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OK, knowing that installment credit helps in your FICO scores, and establishes a more solid history, should I try to get some kind of installment credit?

I have no mortgage history :( (couldn't possibly qualify for one now anyway), and haven't had an auto loan in over 10 years. 8-)

Should I worry about it, or just continue to live with little to no credit usage?

I've gotten a few small CC, but as I don't use them, they will eventually become closed with little/no activity.

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Having an installment loan is helful to your FICO scores, should you run out and get one just to help your scores? That is up to you. I think it is Willingtocope that has a saying in his signature that says something about managing your debt and not your credit scores.

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