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New Member
Posts: 2
Registered: ‎06-10-2007
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how will applying and getting a HELOC affect my fico? a small one, 10K.

Moderator Emeritus
Posts: 5,279
Registered: ‎03-18-2008


HELOCs with credit limits below about $50,000 will be treated as revolving debt, and will be included in the calculation of utilization.  So if you max out your HELOC, it will be treated as a maxed out credit card in your score.


There will be other effects on your score.  There will be an initial negative impact due to the opening of a new account, but you may see a net long-term increase in score since the HELOC adds diversity to your credit profile.

Regular Contributor
Posts: 183
Registered: ‎07-21-2007


Both EQ and TU list my HELOC of $50k as a mortgage and that is reflected in the utilization percentages they calculate.  Experian aslways classified it as an installment loan
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Registered: ‎03-13-2010
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How are HELCs for above $50,000 treated?  I have paid off my mortgage and would like to get a HELC for 70% of the value of my house just in case of an emergency but don't want to bring down my very good FICO score.

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Posts: 16,382
Registered: ‎03-12-2007
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kimdray wrote:

How are HELCs for above $50,000 treated?  I have paid off my mortgage and would like to get a HELC for 70% of the value of my house just in case of an emergency but don't want to bring down my very good FICO score.


Its more than likely they will report as an installment account and not a revolving account.


Credit Profile:
FICO 9: EQ 833 ~ EX 828 ~ TU 824 (07-12-2017)
FICO 8: EQ 830 ~ EX 819 ~ TU 828 (07-12-2017)
FICO 8 Bankcard: EQ 851 ~ EX 849 ~ TU 851 (07-12-2017)
Credit History: 29 years ~ AAoA: 14 years
Total available revolving credit: 157K ~ Cumulative Util: 3% (1 CC reporting a balance)
Inqs: 1 EX (new)
14 Total Accounts on Reports: 9 open, 5 closed. 1 newly opened installment account

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