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Making large payments on an installment account will not give you many points. It's a real bummer and I wish FICO would change this.
ilovepizza wrote:
Has anyone paid 60% or more on a non mortgage installment loan?
I am interested in installments that are greater than total available revolving credit lines. So if you have a total of $10,k available in revolving credit, this installment would need to be greater than $10,k.
What effect did this payment of 60% or greater do to your score?
Thanks.