Auto Enhanced Spread

[mahmood]

Thanks for sharing that jspring, that was helpful. I'm in a similar boat in that I've had one auto loan with no baddies as well as a few installment loans with baddies, although I do have a handful of late cc payments and lots of inquiries, so I'm hoping to get a nice positive auto enhanced spread, otherwise my equifax now is 670 and transunion 679 it goes up about 4 points a month.

I honestly think auto, instalment and mortgage baddies should weigh in a lot more than late cc payments, because they are set up through auto withdrawal so the only way to be late is usually insufficient funds. I've gotten many $20 cc payments late due to forgetfulness despite there being sufficient funds, so that's hardly a measure of my affordability in terms of repaying debt. That's my one biggest pet peeve about credit scores, they don't consider the dollar value of the late cc payment. I'm also always extra cautious to make sure there are sufficient funds for auto or mortgage payments because there's that fear that I could lose my asset if I default.

[mahmood]

Oops typo earlier I meant to say I've had no baddies on installment loans but several on cc's

[hrb]

when using auto enhanced fico score how old or new does the auto loans need to be. I currently have an auto loan for almost a year and no lates. My other auto loans have been paid off for several years. I understand after a period of time things fall off and

are not weighed on so heavely due to age.

[Remember0]

While not an exact answer to your question, auto enhanced should be helped by having any kind of positive auto note history. While recent history is probably better than older history, as long as it's on your credit report still, I imagine auto enhanced will be helped. Also this is a complete guess, but I'd say if you have a currently open/never late auto loan, auto enhanced probably "likes" that behavior quite a lot.

[hrb]

Thanks