What is Credit Mix How Does it Impact Your Credit Score
                     What is Credit 
Mix? How Does 
it Impact Your 
Credit Score?
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How can a credit score be 
impacted by the credit 
mix?
The financial crisis and a few unforeseen 
circumstances in life can make you 
acquainted with terms like 
Experian credit score, credit mix and 
loans. A loan is a type of financial aid 
granted by financial institutions and 
banks to borrowers in need. To obtain a 
loan, there is a list of eligibility criteria 
that every borrower needs to meet. 
Certainly, comes the credit mix. It is a 
less known and heard term, but it takes 
almost 10% of your credit score and 
credit report.
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What is a credit mix?
A credit mix is a composition of all the credit that 
you have had in the past. It is a detailed report 
statement that has a complete track record of the 
entire process of every credit that you have taken. 
It accounts for all the types of credit that are 
available and how well you manage them. This 
credit mix report gives the loan provider 
information about how well you have maintained 
your credit throughout the years.
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What are the types of 
credit mix?
Basically, there are two types of credit, like 
installment and revolving credit. The types of 
credit need to be added when you consider 
taking up the right line of credit. This means 
you will have the right combination of two 
types of credit. The instalment credit is fixed 
and the revolving credit will keep revolving 
based on the available limit. In a revolving 
credit limit, the consumption of available limit 
and credit limit depends upon your credit 
availability.
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Instalment credit limit
In an instalment credit option, the loan is 
available in a lump sum amount. This 
amount of money is repaid back on a 
monthly basis. The due date is fixed every 
month. Within that due date, the EMI or the 
instalment is paid. This credit can not be 
used once the amount is paid off. The 
amount needs to be completely paid off 
within the tenure and then again apply for a 
fresh loan if needed.
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Thank You
For more information please contact:
Clix Capital Services Private Limited
Email: [email protected]  |  Mobile: 18002009898  
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