Just curious is anyone has experiece with this? I just took out a $4000 loan mostly for an upcoming vacation and to pay off 1 card. It's for 4 years. I read here it won't hit my report for a few months. Also in case anyone is curious they didn't do a hard pull to approve me for the loan.
It's an installment loan so you should have little to no effect on your score depending on your aaoa. also it only reports to transunion and experian.
so does this mean it will affect my average age of accounts number but not be included in my overall utilization?
Correct, it will lower your AAoA ( how much depends on your other account ages ), but it won't factor into your revolving utilization. I wouldn't expect much of a score drop.
Shouldnt experience any negligible score drop, and they usually take about 2 months to show up on your credit. Generally it's a hard pull unless you receive a Pre-approval letter which is always a soft although for some reason a few people have applied and not gotten a hard pull...