Does Installment account affect credit score?

QuestionsDoes Installment account affect credit score?
asked 4 years ago

I took a personal loan. I thought installment loan would not affect the credit score. But in my equifax report, i saw the debt to credit ratio as 100% as the full balance is being reported. It shows as Installment account though. So does it do damage to the utilization rate?

Register New Account
Reset Password