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Does this count as an "installment loan" for mix??

pizza1
Community Leader
Super Contributor

Does this count as an "installment loan" for mix??

I have 2 federal school loans. One small, one larger. do they count as an installment loan in the credt mix?

 

When my bk falls off in 9 yrs, my car loan will be obviously paid for and not "open", but my one big federal school loan ill still be paying on because I want a good mix when the bk falls off. Do they count ??


My rebuild worked for me, but won't necessarily work for you!
BK7 D/C- 08/2013
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pizzadude
Super Contributor

Re: Does this count as an "installment loan" for mix??


@pizza1 wrote:

I have 2 federal school loans. One small, one larger. do they count as an installment loan in the credt mix?

 

When my bk falls off in 9 yrs, my car loan will be obviously paid for and not "open", but my one big federal school loan ill still be paying on because I want a good mix when the bk falls off. Do they count ??


Yep, they'll both count as installment loans and will factor into your mix of credit.

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
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