Why doesn't my score go up??

[babbles]

Just wondering, I've been paying on 2 installment loans for 3 out of 5 years now.  Why don't I see my score going up as my balances have gone down??  The scores seem to stay stagnant??

[SouthJamaica]

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@babbles wrote:

Just wondering, I've been paying on 2 installment loans for 3 out of 5 years now.  Why don't I see my score going up as my balances have gone down??  The scores seem to stay stagnant??

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There are certain benchmarks, which -- when you pass them -- give you an increase, calculated on overall installment utilization.

I recently tested a few of the supposed benchmarks with an auto loan.

80%, 70%, and 50% seemed to get a few points, but getting overall utilization below 10% is the real power move.

If you give us your (a) original loan amounts and balances and (b) credit card limits and balances, we can probably give you a strategy for picking up some points.

[Anonymous]

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@babbles wrote:

Just wondering, I've been paying on 2 installment loans for 3 out of 5 years now.  Why don't I see my score going up as my balances have gone down??  The scores seem to stay stagnant??

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As I'm sure you are aware, there are ton of factors that go into your FICO scores and an infinite amount with respect to one another.  Installment loan utilization is only one small piece of the jumbo sized puzzle of credit scores.

You say you've been paying down those installment loan balances for 3 years.  No doubt A LOT has changed with your file in those 3 years outside of just these installment loans.