@Junejer wrote:
@JoeRockhead wrote:Curious as to whether or not you're planning to stay loan free? Aside from the fact that it can be done, it would be interesting to see how long it takes you to get back to 850 without an open loan, and once you've paid down that major purchase.
I don't have any plans for a new loan in the forseeable future. That would be an interesting test, though I might hold onto the 0% interest for as long as possible.
Update: I had no plans to add an installment loan, then plans changed. My plan was to payoff mortgage before getting my convertible. However, I read last week that GM was discontinuing the Camaro, so I took action. Bought a new Camaro yesterday. Experiment over.
Starting Score: 469Current Score: 824
Goal Score: 850
Highest Scores: EQ 850 EX 849 TU 850
Take the myFICO Fitness Challenge
@Thomas_Thumb wrote:Congrats on the Camaro. Spec details and pic? Did you get the Collector's Edition?
You could have paid cash for the car to finish the test plan.
Thanks @Thomas_Thumb! I didn't get the collector's edition. I got what was in stock at the dealership. It had 98% of what I wanted. I would have preferred a 3LT, but ended up with a 2LT. I'll get some pics up later. I haven't taken any yet.
Starting Score: 469Current Score: 824
Goal Score: 850
Highest Scores: EQ 850 EX 849 TU 850
Take the myFICO Fitness Challenge
Starting Score: 469Current Score: 824
Goal Score: 850
Highest Scores: EQ 850 EX 849 TU 850
Take the myFICO Fitness Challenge
@WannaHouse, Search this site for SSL for more details, but you can open an account with PenFed or NCFU, deposit say $3,000, let it age for a month, and then call their customer service and open up the SSL. Take the money and pay down the loan to $250 and suddenly you'll have an installment loan reporting to the credit bureaus with utilization < 9%.
