rabdelr wrote:
I have been reading up on the impact of installment loan UTI. I understand it has a minimal score impact, but i wanted to clarify a couple things.
I reseached info regarding a score inc @ 65% UTI on auto loans. Is this true regarding all installment loans?
My example:-
Student Loan OPB:1000.00 UPB: 800.00 UTI 80%
Auto Loan OPB: 1000.00 UPB: 6450.00 UTI: 64.5%
Total installment UTI: 66%
Will i get my score impact after i reach the 65% overall threshold, or does it already apply on my auto loan is at 64% and not on my student loan @ 80%?
It should be on your total, i.e., combined installment util.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
