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October 13, 2015

Having a mortgage improves your credit score.


The Vantage Score credit score model relies on information in your credit files at the three national credit reporting companies (Equifax, Experian and TransUnion) to generate your score. Your credit file does not contain enough credit behavior information about your first mortgage accounts if you do not have a mortgage.
A mix of different types of open and active credit accounts, including first mortgage loans, can have a positive impact on your credit score.