Installment Loans

• Auto loans are examples of installment loans.automobile image by razorconcept from Fotolia.com
  
  Installment loans--fixed loans with equal payments made for a pre-determined amount of time--affect your credit rating. Loans for cars, household furnishings, appliances and bill consolidation loans are examples of installment loans. These accounts are usually reported to credit bureaus, and late payments can have a negative effect, so make these payments on time.
  
  

Revolving Credit

• Revolving credit--an open line of credit of which you can borrow all or part of the total amount and make varying payments depending on what you've borrowed--is another important payment to make. Credit cards and home equity loans are examples of revolving credit and are usually reported to credit bureaus.
  
  

Mortgage Loans

• Not only do mortgage loan payments show up on your credit report and affect your credit rating, getting too far behind can leave you homeless. Many lenders take particular notice of your history on your mortgage payment when deciding whether or not to extend credit to you.