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There are three different types of credit that all contribute to your credit score and determine whether you have good or bad credit. I know that credit cards such as visa, MasterCard, and American Express make up the first type of credit and then car loans, business loans and other loans make up the second type of credit. I'm not sure what the third type is. You gain credit by having a credit card and using it and/or taking out loans. Good or bad credit is determined by the payments on your credit cards and/or loans. Making the minimum payment at least, on time will lead to good credit. Not paying will lead to bad.

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13y ago

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