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MarineVietVet
Posts: 14,576
Registered: ‎07-14-2009
Re: Expanded "FICO High Achievers" (scores of 760 and above) characteristics list

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.