Valued Contributor
Posts: 1,115
Registered: ‎10-31-2011
Re: High Utilization on Some Cards and Mortgage

getmycreditright wrote:

If that installment loan is your only one, paying it off can adversely impact your score (credit mix purposes). To get points quick, paying down your credit cards will do the trick. Although you'd probably need to pay them down closer to 50% in order to see a sizeable score bump.

This is also incorrect....having a pd/closed installment is the same as an open installment for credit mix purposes.