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I want my score to update before I apply to DCU for auto loan, but it's been 2 weeks!

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Himalaya
New Member

I want my score to update before I apply to DCU for auto loan, but it's been 2 weeks!

I had low 500's score two years ago, and my husband had high 400's. We got a car loan for a new Prius at the highest rate new car dealers can charge in Florida (16.78%). I also got a no-credit-check secured Open Sky visa card. Both of these things have really helped. Finally we've been receiving pre-approvals for better credit cards, and on 11/28 we were both approved for new cards. I got a Discover It with a $4K limit and a Quicksilver with $3.5.K. My husband was approved for a Merrick with $600 limit and also got an unexpected credit increase on his Capital One from $300 to $1300. His new credit showed up on Credit Karma, and Credit .com in a couple of days, and his FAKO's went up because of the new credit and lower utilization. He's now at TU 631, EX 635, and EQ 635. But my new approved cards, which I've received and started using, are not showing up on any of the credit reports I've checked: Credit Karma, Credit.com, Credit Sesame, or True Credit.  And I was approved for them 2 weeks ago! My FAKO's are pretty good: TU 766, EX 774, except for my EQ, which is 678, which of course is what DCU checks. I don't know why the new cards aren't showing up yet, and I think I should wait till they do before I apply to DCU for a new car loan, since I think they might push my score up. But then I started wondering, since my husband is going to be joint borrower and his EQ is 635, is it useless to wait?

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Anonymous
Not applicable

Re: I want my score to update before I apply to DCU for auto loan, but it's been 2 weeks!

My experience is that it can take 30 days or so for some credit cards to start reporting.  I was approved for several late November and none of them are reporting yet.  If you can wait I would wait a few weeks.  I really suggest joining a credit union, if you can get into NFCU they are fantastic if not DCU is also solid for car loans.  Your credit situation makes you a target for dealers so going in with a preapproved finance deal will make the transaction much easier.  

Message 2 of 3
Anonymous
Not applicable

Re: I want my score to update before I apply to DCU for auto loan, but it's been 2 weeks!

Congrats on the progress!

 

I like to make a small purchase on a new CC as soon as I can, in the hopes that it encourages them to report it quickly.

 

Cant say for sure if it works, but I have never had to wait very long for a CC to show up on my reports.  Some have been as fast as two days.

 

HTH

 

 

 

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