Does having only unsecured credit cards significantly impact one's CIBIL score?

[yusuf646]

I hold six unsecured credit cards and have four unsecured loans, with a current CIBIL score of 781. Within the next one or two months, all of my loans will be paid off, and I don't have any plans to apply for new loans.

Given the importance of credit mix in maintaining a good CIBIL score, I'm curious about how much my credit rating will be impacted if I'm left with only unsecured credit cards and no other credit accounts.

What options do I have if there is a significant impact on my credit score?

 

[787]

+1 following

 

[yusuf646]

+1 following

Do I need to tag someone here to receive a response?

 

[Chaitanya-a]

Credit mix don't have any significant impact on your credit score. I've 9 unsecured credit cards. Still the score is 773. So don't think much about it.

What options do I have if there is a significant impact on my credit score?

 

[anilkrsh]

It's not affected much. I used to have only 10 credit cards before. But last year i took car loan which is approx 75% of total credit limit of all my cards. My credit score hasn't increased at all!

 

[ray8285]

It's not affected much. I used to have only 10 credit cards before. But last year i took car loan which is approx 75% of total credit limit of all my cards. My credit score hasn't increased at all!

Secured loans like Auto & gold does not usually increase the score. Only a home loan will increase it !

 

[Trust Me]

And to muddy the waters, secured credit cards are often reported as unsecured by banks!

 

[j_s]

You could also play around with score simulator and get a more precise answer.

 

[macx]

It will have a boost in the score after closing the unsecure loans.
My score increased by 13 points while closing 3 PL's.

 

[pradeepG]

You could also play around with score simulator and get a more precise answer.

score simulator is just a gimmick & Toy, playing around that has no impact or influence or prediction on reality. tried several times before availing a loan or CC but 100% of times result didn't matched.