Continue to enter your reason codes, one at a time, in the search field in order to generate a list of printable explanations below.
P75: Your most recently opened installment account is not too new
An installment account is one with a fixed monthly payment for the life of the loan. Auto loans and student loans are common examples of installment loans. Your newest installment account was not opened too recently. As a result, your history of credit management is enough to demonstrate responsible behavior which has improved your score.
What you can do:
Don’t open more accounts than you actually need. Research shows that new accounts indicate greater risk. Your score will benefit as your accounts get older.
A HIGHER LEVEL OF CONFIDENCE
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