Having a lot of debt won't necessarily hurt your credit score — But here's what to look out for.
Consumers don't get rewarded for carrying more debt, but their credit mix, which makes up 10% of their FICO score, gets a boost when lenders see that they can manage repayment on various types of debts. But above all, being a reliable borrower is most important, Fay reminds us.
"The primary factor in your credit score always will be on-time payments, regardless of how much you owe. Pay every bill on time, every month and you'll be rewarded with a healthy credit score," he says.Repayment on your debt helps your credit score
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