How does having a variety of types of credit (e.g. credit cards, loans, etc.) impact my credit score?

Having a variety of types of credit can positively impact your credit score. Lenders and credit scoring models like to see that you can handle different types of credit responsibly, as it demonstrates your ability to manage a range of financial obligations.

For example, having a mix of credit cards, auto loans, and student loans can show that you have experience managing different types of credit, which can increase your creditworthiness in the eyes of lenders. However, it's important to note that this factor is only one of many that contribute to your credit score, and having a mix of credit alone will not guarantee a high score. Other factors, such as payment history and credit utilization, also play important roles.