Types of Credit
What does it mean
Within a Credit Report, Types of Credit assess whether an individual has demonstrated the ability to manage different types of credit such as installment loans (e.g., mortgage or auto loans) or revolving debt (e.g., credit cards).
Why does it matter
Understanding the factors that influence a person's credit score is crucial, as this score has a widespread impact on various aspects of life. Sharing this knowledge with your customers can set you apart from your competitors.
Other Relevant Terms
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A bit about me
Greetings! I'm Clay Sharkey, and there is nothing I like more than assisting others in achieving their goals. I firmly believe that by enhancing a banker's understanding of their customer's' business, they can provide superior service. This superior service, in turn, leads to stronger relationships for the bank, improved performance for the businesses, and better experiences for our communities. Win-win-win.
