Jump to content

How many installment loans do I need to build credit?


Recommended Posts

How many installment loans do I need to build credit?

From what I've read, its good to have diverse forms of credit, including cards, personal loans, and mortgages.

I have 3 credit cards, a student loan, and a secured loan on which I'm making monthly payments(credit cards 1-9% pif each month) .

I'm wondering:

Is this enough ?

Are any of these unnecessary?

I'm particularly looking at getting rid of the secured loan that I took out for the sole purpose of building payment history and diversity. Opening it may have been a mistake if the student loan by itself would be sufficient.

Thank you in advance for your time.

Link to comment
Share on other sites

This topic is now closed to further replies.

  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.. For more information, please see our Privacy Policy and Terms of Use.