01-01-2009 04:47 PM
Does anyone know how many installment loans one can have before the number is considered too many? I mean primarily open installment loans. Not necessarily what FICO considers too many, but any lender doing a manual review.
Also - would a lender be more likely to consider a higher number of open installment loans to be better compared to the same number of revolving loans carrying the same balances?
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO