Mortgage Loans

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jolllysworld
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jolllysworld
Posts: 5
Registered: ‎03-16-2007

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‎08-20-2007 06:26 PM

There is a lack of recent (non-mortgage) installment loan information being reported on your credit file.
 
 
what exactly does this mean?
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Frequent Contributor
HouseHunter
Posts: 351
Registered: ‎04-02-2007

Re: question

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‎08-20-2007 07:49 PM

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.
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Regular Contributor
ronq
Posts: 156
Registered: ‎07-16-2007

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‎08-22-2007 02:25 PM

do you have any installment loans on your CR?
EX. 780 TU 794.
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Moderator Emeritus
masdeocho
Posts: 2,050
Registered: ‎04-17-2007

Re: question

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‎08-22-2007 03:50 PM


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.
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Moderator Emeritus
fused
Posts: 16,158
Registered: ‎03-12-2007

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‎08-22-2007 06:39 PM

Sounds like a FAKO (not FICO) comment!
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