What is impacting my score the most?

[AndySoCal]

There is a difference between lack of recent installment informaiton. This is implies you have an installment account that has not been updated recently. No installment loans means to me you do not have any installment loans.

[Anonymous]

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@AndySoCal wrote:

There is a difference between lack of recent installment informaiton. This is implies you have an installment account that has not been updated recently. No installment loans means to me you do not have any installment loans.

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FICO Reason Code #32 "Lack of recent installment loan information" means there are no active installment loans in the last six to twelve months in the credit file. 

Other posters on these forums have confirmed that the score isn't impacted for about six months after the last installment loan is closed.

FICO measures risk, and when we don't have an active installment loan, we raise our level of risk because the system cannot give a complete judgement of our credit behavior.

[AndySoCal]

If this is reason 4 on the OP Equifax report someone needs to fix the verbiage being shown.  The reason shonw in the OP would make more sense if it said no nrecent installment loans.  What causes the reason code to be shown?

[haulingthescoreup]

You get a reason code like this if there hasn't been any activity on the account in the previous month. For loans, this would mean no payments, late charges and so forth.

For revolving credit, it would mean no charges, no payments, and so forth. There is activity (which is reported) on an account if you charge and pay during the month, for instance, even if the previous month's and this month's balances were $0.

The "recent activity" refers to activity at the lender level, not activity at the report/ CRA level (whether or not the balance has changed.)