The remaining balance on your mortgage or non-mortgage installment loans is too high.
Check your installment loans to calculate your remaining balances
 FICO High Achievers [?]have paid down an average of 37% of the principal on their non-mortgage installment loans. |
Your FICO® Score weighs the balances of your mortgage and non-mortgage installment loans (such as auto loan or student loans) against the original loan amounts. In general, when you first obtain an installment loan your balance is high, and as you pay this loan down, the balance decreases.
Keep this in mind: This factor will have less of a negative impact on your FICO®Score as you pay down your installment loans and the total balance decreases.
These have perfect payment history. I have no other loans on my credit. No car, house or anything else. I have a couple credit cards and several store cards.
Probably is. I got the same thing on mine, even though I haven't started paying them yet. Didn't seem to affect my score much, and didn't prevent me from approvals that I was seeking either.
