http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Question-for-Credit-Gurus-out-there/m-p/1734830#M67759 <p>What other installment loans are in your portfolio?</p><p>Possilble improvement in mix of credit (10% weighted category).</p><p> </p><p>What is your currrent avg age of accts, and how many accts make up that average?</p><p>Definate decrease in AAoA, amount denpendent on current AAoA and tot no. of accts.</p><p> </p><p>New inquiry and new acct will affect new credit category for one year.</p><p> </p><p>Not a huge gain, if any.....</p> Wed, 05 Dec 2012 22:50:51 GMT RobertEG 2012-12-05T22:50:51Z http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Question-for-Credit-Gurus-out-there/m-p/1734698#M67754 <p>This question is for all credit gurus out there.</p><p> </p><p>The title says it all. Since &quot;type of credit&quot; is one of the weighing factors in FICO scoring model, should I take out a small personal loan (say $1000 for 1 year) to raise my FICO score? What will be it's impact on my FICO score with the process of time?</p><p> </p><p>My CU offers a 1 year secured CD for $1000 at very low interest rate.</p><p> </p><p>Thanks in advance!</p><p> </p><p><font color="#ff0000"><strong>By mistake, I posted this thread twice. IS THERE ANY WAY TO DELETE A THREAD?</strong></font></p> Wed, 05 Dec 2012 21:25:42 GMT http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Question-for-Credit-Gurus-out-there/m-p/1734698#M67754 cowboyguy 2012-12-05T21:25:42Z http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Question-for-Credit-Gurus-out-there/m-p/1734830#M67759 <p>What other installment loans are in your portfolio?</p><p>Possilble improvement in mix of credit (10% weighted category).</p><p> </p><p>What is your currrent avg age of accts, and how many accts make up that average?</p><p>Definate decrease in AAoA, amount denpendent on current AAoA and tot no. of accts.</p><p> </p><p>New inquiry and new acct will affect new credit category for one year.</p><p> </p><p>Not a huge gain, if any.....</p> Wed, 05 Dec 2012 22:50:51 GMT http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Question-for-Credit-Gurus-out-there/m-p/1734830#M67759 RobertEG 2012-12-05T22:50:51Z http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Question-for-Credit-Gurus-out-there/m-p/1734854#M67760 <p>I noticed from your other posts you are pretty new to credit. I think it won't help much</p> Wed, 05 Dec 2012 22:58:45 GMT http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Question-for-Credit-Gurus-out-there/m-p/1734854#M67760 hussain99 2012-12-05T22:58:45Z http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Question-for-Credit-Gurus-out-there/m-p/1734862#M67761 <p>Started building credit 10 months ago.</p><p> </p><p>4 credit cards, all during this time. 6 inquiries. No installment loan currently. I keep my utilization under 5%. My current score is 695. I'm starting to believe my score would increase very slowly since I only have CCs &amp; it would take me a lot of time to reach 750+ without a mix of credit.</p> Wed, 05 Dec 2012 22:59:15 GMT http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Question-for-Credit-Gurus-out-there/m-p/1734862#M67761 cowboyguy 2012-12-05T22:59:15Z http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Question-for-Credit-Gurus-out-there/m-p/1735436#M67765 <p>Thread is locked to direct others here:</p><p> </p><p><a target="_blank" href="http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Should-I-take-out-a-small-loan-to-raise-FICO-score/m-p/1734694">http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Should-I-take-out-a-small-loan-to-raise-FICO-score/m-p/1734694</a></p><p> </p> Thu, 06 Dec 2012 03:36:13 GMT http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Question-for-Credit-Gurus-out-there/m-p/1735436#M67765 llecs 2012-12-06T03:36:13Z