What Counts as an Account on a Credit Score?

Your credit score is one of the main determining factors that determines if you are eligible to borrow money and what kind of interest rate you will receive. Your FICO credit score can range between 300 and 850 points. The higher your credit score, the lower the interest rate you can receive on a loan. Your credit score is determined by evaluating the accounts you have opened.

Revolving Accounts

Revolving accounts have a different balance due each month. A credit card account is a good example of a revolving account. Other types of revolving accounts include retail store accounts and home equity lines of credit. A debit card is not considered an account on your credit report.

Installment Accounts

An installment account has a fixed payment each month. You often are under contract or are otherwise legally obligated to make payments on these accounts. An installment account may include signature loans, auto loans and home loans. A student loan also is an installment account. An installment account may have a fixed or adjustable interest rate.

Open Accounts

Open accounts occur less frequently on credit reports than installment accounts or revolving accounts. Your cell phone account is an example of an open account. Debtors expect that these kinds of accounts will be paid in full at the end of each payment period. Other types of open accounts may include electricity, gas, water and cable.

Closed Accounts

A closed account is no longer active. It may be listed as "closed/current" or "closed/never late." This means exactly as it says -- that the account was closed in good standing. Closed accounts that were closed in poor standing will say something like "closed/90 days delinquent."