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That would take me from 3 installment accounts (2 loans and a car) to only 2 and I don't own a house so I don't have a mortgage. I'm going to do it anyway, but I'm just wondering if the hit to my mix will hurt my score?
@OHWWCB wrote:That would take me from 3 installment accounts (2 loans and a car) to only 2 and I don't own a house so I don't have a mortgage. I'm going to do it anyway, but I'm just wondering if the hit to my mix will hurt my score?
It should not hit you at all as you still have 2 open instalment loans and if it does the points are really nothing to worry about. Never worry about paying off instalment loans just to maintain a slightly higher Fico they dont give you much bang in the end. Revolving credit is where the game is.
@gdale6 wrote:
@OHWWCB wrote:That would take me from 3 installment accounts (2 loans and a car) to only 2 and I don't own a house so I don't have a mortgage. I'm going to do it anyway, but I'm just wondering if the hit to my mix will hurt my score?
It should not hit you at all as you still have 2 open instalment loans and if it does the points are really nothing to worry about. Never worry about paying off instalment loans just to maintain a slightly higher Fico they dont give you much bang in the end. Revolving credit is where the game is.
Okay, cool. Thank you!