CreditBob wrote:
Compared to a revolving account how far down would I need to pay on a installment aka personal loan before it was no longer a factor as being a high balance? You know how on a credit card you need to get it below ten percent balance of the line of credit? On my installment loan I started off with $ 1, 595. Now the balance is $ 853 and the fico score is telling me that part of the reason the score is low is because I have a high balance. So do I need to pay it down to thirty percent or less or by how much until "high balance" is no longer a factor?
I would be very interested to know that. But I don't think it has nearly as much impact as a CC. When my new (and only OPEN) installment loan went on my reports, at 100%, my score ticked UP a couple of points!
The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid
