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Moderator Emeritus
fused
Posts: 16,187
Registered: ‎03-12-2007

Re: Rapid Repayment of Installments...



ilovepizza wrote:


fused111 wrote:
4. NO!



I did not know that. I always thought Auto installment debt counted lighter but still negatively to your score. Is it only Auto debt or all installments debt is ignored? :smileyhappy:

Installment is installment!  On time payments are what counts.  Revolving debt carries much more weight. 
Senior Contributor
ilovepizza
Posts: 3,071
Registered: ‎05-17-2007

Re: Rapid Repayment of Installments...

[ Edited ]


ilovepizza wrote:
4. The debt is counting against you on your score.

fused111 wrote:
4. NO!

ilovepizza wrote:
I did not know that. I always thought Auto installment debt counted lighter but still negatively to your score.

fused111 wrote:
Installment is installment! On time payments are what counts. Revolving debt carries much more weight.



RE: "much more weight"
I'm confused. Does the debt early in to the Auto installment (fewer payments, high balance) have any effect on the FICO score? Please do not think that I am trying to nitpic, your answer was no. I take things very literally. I took the answer of no, as debt not calculated as a factor. I just am trying to learn if I was wrong. I have been telling people that it does effect their score in this instance. :smileysad:

Message Edited by ilovepizza on 06-20-2007 02:23 PM
If we never set higher goals we would never get as far.
sol, credit 101, acr, abbreviations, calc
Moderator Emeritus
Tuscani
Posts: 6,182
Registered: ‎03-29-2007

Re: Rapid Repayment of Installments...

Any debt affects your util\score. Revolving just matters MUCH more.
Established Member
bobkelly
Posts: 51
Registered: ‎06-25-2007

Re: Rapid Repayment of Installments...

Pay down your loans as soon as possible to save on interest. 
Regular Contributor
SoulSmilen
Posts: 165
Registered: ‎03-13-2007

Re: Rapid Repayment of Installments...

This spam is getting really old.
 
Bob, you voiced your opinion many times over and we get it. This isn't a 'get out of debt' board, though; your message really doesn't fit in here.
 
Thanks and have a good one.  :smileyhappy:
Established Contributor
FICO_Focused
Posts: 905
Registered: ‎05-09-2007

Re: Rapid Repayment of Installments...

[ Edited ]
:smileytongue:No kidding!
 
Rob


Message Edited by FICO_Focused on 07-03-2007 12:21 AM
Moderator Emeritus
fused
Posts: 16,187
Registered: ‎03-12-2007

Re: Rapid Repayment of Installments...



bobkelly wrote:
Pay down your loans as soon as possible to save on interest. 


Your right if you want to save $$. However, many at this forum are trying to improve their FICO scores and overall credit rating. Sometimes certain actions do not help you do both.
 
 
 
Senior Contributor
Noah_Bodie
Posts: 4,635
Registered: ‎03-11-2007

Re: Rapid Repayment of Installments...

Frequent Contributor
jaguls66
Posts: 356
Registered: ‎06-06-2007

Re: Rapid Repayment of Installments...

[ Edited ]


bobkelly wrote:



Is there a way to block this edit from showing up when I read a thred?

 

--

No need for name calling. Thanks!

-Tusc



Message Edited by Tuscani on 07-03-2007 01:26 PM
Moderator Emeritus
fused
Posts: 16,187
Registered: ‎03-12-2007

Re: Rapid Repayment of Installments...

[ Edited ]



MODS, MODS, MODS! Please dump this post!


Message Edited by Tuscani on 07-03-2007 01:20 PM

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