Do non-mortgage loans really help FICO scores? - 1
Added (1). I have had several loans ranging from 5000-6000 from my banks, also one from prosper. When I look at my FICO scores during the loan term, it is never good. When the loan balance is high the score will be low until I have paid them down to about $1000. When it is fully paid the score indicates that I don't have a recent mortgage which keeps the score down. The loan seems to only help when it's almost paid off and useless any other time. How exactly do these loans help FICO scores?
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