@Anonymous wrote:So I've been doing some reading and from my understanding, you get this code when you're over a certain percentage. The magic number is around 8.9%. Is this a total of all the loan you have out? Are collections factored in this or no? Generally, how much of an increase in points do you see?
In my experience, until my installment loan balances were down to 9%, I kept getting an indication that my installment loan balances were too high . I.e. even when they were as low as 14% FICO 8 was telling me they were too high.
Yes it's the total of all open loans.
I don't know how collections factor in.
