Will You Get Punished if You Don’t Have Credit Card Debt? – Daily Insurance Scoop

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Will You Get Punished if You Don’t Have Credit Card Debt?

Will You Get Punished if You Don’t Have Credit Card Debt?

Are your credit cards punishing you if you don’t have debt on your accounts? After all, your score grows when you have debt and are paying it off.

For the most part, however, your score is determined based on how you diversify your accounts. Often if you’re looking to increase your score, you can add payment installments or take out a loan for a car or home instead.

Image via Deserve.

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By clicking submit, I authorize Daily Insurance Scoop and its affiliated companies to: (1) use, sell, and share my information for marketing purposes, including cross-context behavioral advertising, as described in our Terms of Service and Privacy Policy, (2) supplement the information that I provide with additional information lawfully obtained from other sources, like demographic data from public sources, interests inferred from web page views, or other data relevant to what might interest me, like past purchase or location data, (3) contact me or enable others to contact me by email with offers for goods and services from any category at the email address provided, and (4) retain my information while I am engaging with marketing messages that I receive and for a reasonable amount of time thereafter. I understand I can opt out at any time through an email that I receive, or by clicking here