General Question

jballou's avatar

Are Some Credit Cards more beneficial to your credit score then others?

Asked by jballou (2113points) July 23rd, 2008

For example, does Wamu carry more or less weight then Bank of America? American Express vs. Discover?

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4 Answers

robhaya's avatar

Credit Scores are not based on who issued the card, its based on some of the following factors 1) Your Balance in relation to your credit limit, 2) Payment History (e.g. 30 Days past Due, etc) 3) How long you have had your credit card for (e.g. 1 year)

Just keep your credit card in good standing, don’t miss a payment, and pay off your balance every month if possible.

Keep in mind that Credit Cards only make up one part of your credit score; Student Loans, Car Loans, Mortgage Loans, etc all get factored into your credit score.

Good Luck!
R

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