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12-31-2012 03:05 PM
I was wondering about the total fico Mix
I have 4 revolvers and I was wondering if
having a paid Installment loan would be helpful?
12-31-2012 06:20 PM
IMO, not too much. It's such a tiny part of FICO scoring. Many in here hit into the 800s with just a few CCs and a long history and no loans whatsoever. So, I can't imagine any benefit with 4 CCs already. Also, IMO, it just seems wrong to pay interest on a loan for the sake of a FICO. Now if a mortgage loan is needed or a car loan is needed whereby the mix changes due to an added installment, then that's different, but I wouldn't do it for FICO alone.
Backing up for a second........paid? How would you add a paid loan?
12-31-2012 06:36 PM
My oldest needed a laptop for college and we went and got her one
through Aaron's ( I know) however it was paid off this month after
making double monthly payments and they said they would report
to the CRAs however if it's going to hurt me I am going to ask them not
to do so/
12-31-2012 06:41 PM
No just my revolvers, the manager at Aarons said they would post it from the date opened
about 1 year ago, the total price, and Paid in full Never Late
01-02-2013 01:53 PM
I have an account through Home Choice. I think they are affilited with Rent-a-center and Aaron's? They dont do much for your credit IMO. The loans are a max 14 months. Plus they only are reporting to TU. At least in my case.