Installment Loan Util

[EW800]

Hi All, 

I know each profile can be different, and scoring models can vary, however I am wondering if we have any evidence that taking an installment loan Util from 28% down to 18% may gain any points.  I know that going down to 8.9% or less can gain points, however wondering if going below 19% could do anything.  I just made a decent sized payment, taking the util down to just below 18%, therefore hoping for some Fico love.  Thoughts?  

Thanks! 

[Medic981]

I have not read anything to date about gaining a FICO scoring advantage on an installment loan until you get to 8.9% or less of the amount originally owed.

[EW800]

Thank you, Medic.  I thought that might be the case.  I am planning to take the balance sub 8.9% in about two months, so looking forward to perhaps seeing a few points then.  

Thanks again!  

[Anonymous]

Is this your only open installment account?  Until we know that it's not possibly to predict what will happen.

[SouthJamaica]

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@EW800 wrote:

Hi All, 

I know each profile can be different, and scoring models can vary, however I am wondering if we have any evidence that taking an installment loan Util from 28% down to 18% may gain any points.  I know that going down to 8.9% or less can gain points, however wondering if going below 19% could do anything.  I just made a decent sized payment, taking the util down to just below 18%, therefore hoping for some Fico love.  Thoughts?  

Thanks! 

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In my personal experience it did not. Only when I got down to 9% did I get a significant bounce.