If you're not careful, certain circumstances can actually bring your credit score down - the last thing you want to happen when you're ready to buy! This tip is not mandatory, but it is a suggestion that may increase your credit score. However, there are circumstances in which it may actually hurt your score. Understanding the difference can make or break your loan. Lenders like to see a borrower who has a credit history of at least five open trade lines or credit accounts. These could be major credit cards, an auto loan, a student loan, gas cards or department store cards. Typically they like to see that at least three of the accounts have a history of 24 to 36 months. This shows them that the person they are considering lending money to has a history of paying bills on time.
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