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Revelate
Posts: 9,486
Registered: ‎12-30-2011
Re: Garden Club Meeting - October 2012

creditnocash wrote:

how much effect do installment loans really have on a score? and is it counted in aaoa? 

my auto loan finally reported. 

and my walmart fico only dropped 4 points. 

im itching to pull my reports here but waiting for 2 cards to report 0 and till my cb mc is paid off. 


Installment loans are factored into AAoA.  They factor heavily into mix of credit if you have no other on your report, and potentially two being open help as well anecdotally.

 

A more complete answer can be had over in the Understanding FICO forum if you want, but generally speaking have auto and mortgage loans reporting is nothing but goodness for one's FICO and future underwriting approvals.

 

Back on topic Gardening, think there's another week till I get my spade post-Zync (ok 8 days!), and I'm doing fine itch-wise by being kept so busy at work these days I'm not sure I remember how to breath let alone apply for a credit card sometimes.  Org chart got hit by a bomb or at least artillery shells and I'm stuck with an "interim" tag, great, just great.  Chargers-Saints all over again and I'm looking at 2nd and 37 hoping for a defensive illegal use of the hands... lightning doesn't strike twice I don't think.

Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 04 673, EQ 8 707, TU 720, EX 702* (09/02/14, EX older)
Goal Score: 700 on EQ '04 (01/01/15)


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