cancel
Showing results for 
Search instead for 
Did you mean: 

question

New Visitor

question

There is a lack of recent (non-mortgage) installment loan information being reported on your credit file.
 
 
what exactly does this mean?
Message 1 of 5
4 REPLIES
Frequent Contributor

Re: question

Sounds like they're telling you that you need an installment loan in your credit portfolio.  FICO likes to see a mix of different types of credit.  Mine keeps telling me that I don't have enough revolving credit but I have 6 lines of revolving credit (CC's and charge accounts)...that's more than enough for me.
Message 2 of 5
Regular Contributor

Re: question

do you have any installment loans on your CR?
EX. 780 TU 794.
Message 3 of 5
Moderator Emeritus

Re: question



ronq wrote:
do you have any installment loans on your CR?

Examples:  car loan; personal loan
-----------------
Bartender, bring another round of FICOtinis please!

9.4.2011: TU 805. EQ 815.
Message 4 of 5
Highlighted
Moderator Emeritus

Re: question

Sounds like a FAKO (not FICO) comment!
Message 5 of 5