fico and installment

Discussion in 'Credit Talk' started by k, Apr 4, 2001.

  1. k

    k Guest

    got score on 3/19 it was 647
    from 3/19 to today, i paid off car loan down to zero (paid 19k), and im no longer over the max on two credit cards, but right at maxing out.
    and guess what all this did to my score

    an increase of a measly two points

    fico dont give a crap about what you do on installment loans.
    they care a whole lot of crap about what you do on credit cards.
  2. kim

    kim Well-Known Member

    does your report reflect this changes already?
  3. k

    k Guest

    yes, it shows those changes.

    but there is good news. i got a credit increase from one card from 2500 to 5000. i only owe 1k on the card as is. with some payments ive made in the past few days, my available line of credit will be about 35 percent on 15k. i know, not great. but at least not maxed out.
  4. roni

    roni Well-Known Member

    I think you are right K.

  5. roni

    roni Well-Known Member

    but if you default on the loan....they care a whole heck of a lot....


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