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score or no score change

Valued Contributor

score or no score change

Paid-off my personal loan as well as my motorcycle loan, and can not recall how that MAY or may NOT affect my score.

should i take out another personal loan to show FICO a mix of credit, or do the closed TLs do that regardless?
5/2012: 560 credit scores across the board
12/2014 750+
3/2017 780+
5/2017 800+
Message 1 of 14
13 REPLIES
Valued Contributor

Re: score or no score change

JUST was alerted to a EQ score increase from 664 to 673, but believe it may be do to utli% change...but who knows.

5/2012: 560 credit scores across the board
12/2014 750+
3/2017 780+
5/2017 800+
Message 2 of 14
Valued Contributor

Re: score or no score change

I've always heard that closed installment loans count in the mix of credit.


Starting Score: EQ 653 6/21/12
Current Score: EQ 703 8/5/17 - EX 743 8/5/17 - TU 731 8/5/17
Message 3 of 14
Established Contributor

Re: score or no score change

Current paid off loans look good. Give it some time. What other items may be holding you back?

Starting scores 01/02/2012 EQ 707(Fico) TU 733(Fico)XP 735 (FAKO)
Updated scores 05/01/17 EQ 824, TU 812 EXP 810 (all Fico scores) Remember the Three P's: Pay early in Full, Pay on Time, Patience
Message 4 of 14
Valued Contributor

Re: score or no score change


bettercreditguy1 wrote:

Current paid off loans look good. Give it some time. What other items may be holding you back?


 

Under 3 years AAoA and 5 year old CO (repo)

5/2012: 560 credit scores across the board
12/2014 750+
3/2017 780+
5/2017 800+
Message 5 of 14
Moderator Emeritus

Re: score or no score change

I don't think you need another installment.  Do you have any other installment loans?  Mortgage?  Car loan?  

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

June 2017 update: All scores over 820, just pure gardening now.
Message 6 of 14
Valued Contributor

Re: score or no score change


Shogun wrote:

I don't think you need another installment.  Do you have any other installment loans?  Mortgage?  Car loan?  


No.  Now I'll just show 4 total installment loans.  1 through a Florida CU that turned intot he repo in 08, and 3 local CU installment loans - now paid-in-full.

 

5/2012: 560 credit scores across the board
12/2014 750+
3/2017 780+
5/2017 800+
Message 7 of 14
Valued Contributor

Re: score or no score change

...and just like that, its down to 669.  again, no idea as to why.

5/2012: 560 credit scores across the board
12/2014 750+
3/2017 780+
5/2017 800+
Message 8 of 14
Moderator Emeritus

Re: score or no score change

Repo, where are you pulling scores from?

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

June 2017 update: All scores over 820, just pure gardening now.
Message 9 of 14
Valued Contributor

Re: score or no score change

SW alerts
5/2012: 560 credit scores across the board
12/2014 750+
3/2017 780+
5/2017 800+
Message 10 of 14