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Posted in Credit Scores
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Question By
kevink4

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27 People Helped
Anyone else notice how scores can be nit picky?
When there isn't anything bad on the report, and the score is pretty good, the generated Key Factors can stretch things a little bit.

For instance, 1 of my 2 reported factors is "Lack of recent installment loan information". I paid off my car loan 4 months ago. So, 4 months ago is no longer recent?

Another is "Too few accounts currently paid as agreed"
Which sounds like I'm not paying some bills. I think I have 3 accounts with positive balances, paid off monthly.

Stretching things a little bit. But I guess the programmer felt there had to be SOMETHING output if you don't have a perfect 850 score. Which I don't even know if it is possible.

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Top Contributor
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Loans closed four months ago do not help you. You need an open and active installment loan. "Too few accounts paid as agreed" is not referring to accounts that you are not paying on time, it is referring to you not having enough accounts that are open and active. The three basic credit building tools and credit maintaining tools are three credit cards and one installment loan that are reported to all three credit bureaus, that is JUST the basic number of accounts, in order to get things growing you will have to exceed that number of accounts. Remember, it is not the closed accounts that contribute most to your credit scores, it is the accounts that are open and active. Check your FICO scores from time to time too, as certain actions may affect FICO scores differently than how they affect the scores that you get here.

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