FlyerTalk Forums - View Single Post - Credit Scores, Miscellaneous Factors

Dec 30, 2022 | 11:07 am

#11

euromannn

Join Date: Aug 2003

Location: Seattle, WA. USA

Programs: MR, AA, UA, DL, AVIS and growing

Posts: 1,192

Mortgage loan Helps FICO SCORE- PER EXPERIAN

Quote:

Originally Posted by Dr Jabadski

Thanks all for the replies. Quite a consensus when the Community Director, a Legend Mod, an Evangelist Mod and another Evangelist all agree

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Here is a comment on my Experian credit report for FICO where I show "hurting" for NOT having mortgage!!!!
PAYING OFF YOUR MORTGAGE LOAN "HURTS" YOUR FICO SCORE PER EXPERIAN

Lack of recent non-mortgage loan information
HURTING

You have a lack of recent activity from a non-mortgage installment loan.
Your credit report shows a $0 balance on your non-mortgage loans (such as auto or student loans) or a lack of sufficient recent information about your loans. Having a non-mortgage installment loan with no missed payments and a low balance along with other types of credit demonstrates that a person is able to manage a variety of credit types. Having a 0% installment loan balance to loan amount ratio is considered slightly more risky than having a low installment loan ratio.

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