Yes it is an installment loan. I have it setup for auto payments, and do not plan on paying anything extra on there. Just want to bring down my CC balances. I pay min $500 a month on the higher balance to bring it down. This month I have 1100 I can use towards the 2162 balance... If I stay in the same tier as paying 500, I rather not pay 1100 right now.
I just went from 10% util to 4% util and gained 16 point on EX and 10 points on EQ. I also had 1 INQ go over 1 year so I now have 2 INQs on EQ. TU hasnt reported util change yet so it should also rise soon.
I dont know if 9% would have gotten me the same result as 4%