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Frequent Contributor
Posts: 301
Registered: ‎07-25-2007
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Re: Mix of credit impacting FICO?

[ Edited ]

sherry wrote:
Anything that is reported on your credit report COUNTS
so that is a fallacy...
I bet if you miss a automobile payment you would see your score drop..
so everything counts.





I think what we're trying to determine here is what effect closed installment accounts have on your report, and if they're still factored into the FICO score in terms of "mix of credit". You couldn't possibly make any late payments on a closed installment account now, could you? ;-p

Message Edited by andyaycw on 01-04-2008 10:38 PM

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Posts: 9,252
Registered: ‎03-19-2007
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Re: Mix of credit impacting FICO?

Yes- IMO closed installments are not considered in mix
 
NOR are closed installment loans considered in "Installment utl"

andyaycw wrote:

sherry wrote:
Anything that is reported on your credit report COUNTS
so that is a fallacy...
I bet if you miss a automobile payment you would see your score drop..
so everything counts.





I think what we're trying to determine here is what effect closed installment accounts have on your report, and if they're still factored into the FICO score in terms of "mix of credit". You couldn't possibly make any late payments on a closed installment account now, could you? ;-p

Message Edited by andyaycw on 01-04-2008 10:38 PM


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