Elliot0409 wrote:
Installment util: Most FICO High Score Achievers have paid down on average 35% of the original amount of the loan, in addition to the fact that on average they usually owe less than $1200 on their non-mortgage accounts (found on a search)
This means that if the original loan balance was $10,000, its optimal to owe 6500 or less?
or 3500 or less?
In your example it would be $6,500. But installment utilization, although scored, is such a tiny part of overall scoring that it can be virtually ignored.
Payment history and revolving credit utilization are the factors most important.
