05-31-2007 05:59 PM
05-31-2007 06:26 PM
Jay1987 wrote:Do these count against you when scoring as in balance owed, etc?"Your FICO score considers how much you owe on your credit accounts, such as revolving credit accountsand non-mortgage installment loans. Generally, the more you owe on these accounts, the greater risk you pose to lenders. "The only installment loan I have is my car loan. I was under the impression as long as it was paid on time, that the balance wouldn't have a negative impact on my score... Am I wrong with this?
09-13-2007 03:02 PM
09-22-2007 06:11 AM - edited 09-22-2007 06:19 AM
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO