Valued Contributor
Posts: 2,655
Registered: ‎06-05-2008

Re: Secured Loan to improve FICO?

Good luck!

12-15-14: FICO EXP: 813 - EQU:802 - TRAN: 756 - AVG: 790 +240 points from JUN 2008 - MY CREDIT JOURNAL

Posts: 472
Registered: ‎10-22-2011

Re: Secured Loan to improve FICO?

Did you call all the back door numbers and explain to them what

you said here ?


What's your AAoA ?

Posts: 3,176
Registered: ‎10-19-2012

Re: Secured Loan to improve FICO?

llecs wrote:

I've let my views be known before on the topic of secured loans. I think they are a waste of resources, have very little impact on mix, potentially lower your score due to new credit and AAoA, and cost $$$ to boot. There are also posters in here who have hit 800+ with no loan reporting. BTW, higher CLs don't help your score, though properly utilizing the CLs you have will.


I know it gets frustrating...we've all hit that FICO credit wall.

Thanks for your views. I was thinking of getting a secured loan to help the mix, but if its impact would be minimal I wouldn't bother. 

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