Installments Accounts

[corymcd88]

I have two new installment accounts for some dental work with very small time to pay 6m, both account when they report will me a payment of $85,00 for 6m. How will that affect my scores?

[Themanwhocan]

Should be a pretty nice little increase after 4 months. After 6 months, when they are paid off, you will lose most of the gain unless you have another open installment loan.

http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Installment-tradeline-utilization-thread/...