7 Ways To Improve Your Credit In 6 Months

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Nerdwallet.com

Installment accounts would be considered things that have fixed payments over a fixed amount of time until the payments are paid in full. These are auto loans, student loans, mortgage loans, home equity loans, and signature loans.

Open accounts are also known as open credit, and could be considered a mix of installment and revolving credit – with payments due in full a the end of the billing cycle. These are utility bills and cell phone bills.