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@Brian_Earl_Spilner wrote:If you don't have any other installment loans, it'll drop because you don't have an optimal credit mix.
But what about if he had a PLOC with say 10k line and 0 bal ?? Is that considered an installment loan
@Anonymous wrote:
@Brian_Earl_Spilner wrote:If you don't have any other installment loans, it'll drop because you don't have an optimal credit mix.
But what about if he had a PLOC with say 10k line and 0 bal ?? Is that considered an installment loan
PLOC is considered a revolver. If you pull your own report, your PenFed PLOC should show revolving, depending on the credit monitoring service.
@Anonymous wrote:
Oh ok. The original loan was between 15k and 17k cant remember exactly and then the remainder was a little over 3k that I paid a few days ago. So that I could bring title to a different state to trade vehicle in. Guess I should've just rolled the loan over...
@Frut, curious to see if your reports updated yet with your loan paid off? The only other thing I would have advised if you are trying to get a Mortgage were you trying to conventional or FHA? With a thin file you may have limited options and I would have talked to a mortgage broker or professional who could advise if paying off loan before applying would hurt your chances for either type of loan since you don't have much else on you profile. Good luck