Valued Contributor
Repo-ed
Posts: 2,954
Registered: ‎02-09-2012
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?
Valued Contributor
Repo-ed
Posts: 2,954
Registered: ‎02-09-2012
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.

Established Contributor
jamie123
Posts: 879
Registered: ‎03-22-2012
Re: score or no score change

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



Starting Score: EQ 658 6/18/12
Current Score: EQ 697 10/26/14 - EX 687 7/21/14 - TU 682 7/21/14
Goal Score: EQ 720+
Take the FICO Fitness Challenge

Established Contributor
bettercreditguy1
Posts: 759
Registered: ‎02-11-2012
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) EXP 735 (FAKO)
Updated scores 06/01/2014 EQ 797(Fico) TU 768(Fico) EXP 769 (Fico), EQ 849 (Next Gen 5/27/14 Penfed)


Remember the Three P's: Pay early in Full, Pay on Time, Patience
Valued Contributor
Repo-ed
Posts: 2,954
Registered: ‎02-09-2012
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)

Moderator
Shogun
Posts: 12,952
Registered: ‎04-15-2011
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!
Valued Contributor
Repo-ed
Posts: 2,954
Registered: ‎02-09-2012
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.

 

Valued Contributor
Repo-ed
Posts: 2,954
Registered: ‎02-09-2012
Re: score or no score change

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

Moderator
Shogun
Posts: 12,952
Registered: ‎04-15-2011
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!
Valued Contributor
Repo-ed
Posts: 2,954
Registered: ‎02-09-2012
Re: score or no score change
SW alerts