1. Feb 28, 2006 #1
   

   credittalk New Member

   I have been told that a loan for $1541.00 for a period of 16 months will provide the maximum increase in FICO. Can anyone confirm this? Are there better loan amounts and time periods that will increase your FICO score?

    

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3. Mar 2, 2006 #2
   

   kustomkat Well-Known Member

   who ever came up with that is a jokester.
   
   no specific amounts or time lengths will improve your score.
   
   usually when an account is brand new it will temporarily lower your score.
   after time positive accounts and on time payment history will raise anyone scores.
   
   how much depends on one's profile.

    

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