Utilization % only counts revolving accounts... You will however, see a bump as installment loans are paid down. I'm not an expert on this, but feel free to check out the Understanding your FICO Forum for more details!
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FICO 9: 
Filed Chapter 13 on 6/1/2017 after job loss. Discharged 6/1/2022.
Goal: Gardening!
Filed Chapter 13 on 6/1/2017 after job loss. Discharged 6/1/2022.
Goal: Gardening!
@Emdee_MD wrote:When determining utilization, is that for only revolving credit? (i.e. store, and credit cards). Or do installment loans apply to this as well? I closed on my house in Aug of 2012; with a ~230,000 mortgage, which has a balance of ~224k remaining. Is that going to effect my utilization and hurt my chances when applying for cards when I finish gardening? Or is that viewed differently. Currently my revolving credit limits are at 28% util but the majority of that is on 1 card making that card 80%. My goal is to get my util down sub 10% by november so I can see where I stand and app for 1 more card, and get some CLI's.
I think utilization only factors in revolving accounts. Since installment loans are not revolving, it should not be counted.
