Anonymous Posted June 27, 2003 Report Share Posted June 27, 2003 Does an unused equity line of credit lower your credit score?I have noticed that "installment loans" matter very little--I paid down an installment loan of $3200 down to $1800 inone "whack" and my score improved 2 points. However,when I paid down my credit cards there was a drasticimprovement. So back to my original question--anddoes anyone know "for sure." I don't want to take a leap before I have a little more info.Thanks Link to comment Share on other sites More sharing options...
kb9tbq Posted June 27, 2003 Report Share Posted June 27, 2003 Well them equity loans are a two sided sword for both good and bad:The bad side of this is that if you look at type of credit they are showing as revolving. So if you have 3 or 4 credit cards already it is making you look like you have too much revolving credit.On the good side, just like a revolving credit card account, low utilization always boosts the scores, the lower the better. Link to comment Share on other sites More sharing options...
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