08-19-2013 10:29 PM
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.
08-20-2013 04:03 AM
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.
08-20-2013 03:50 PM
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.
08-21-2013 05:08 AM
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...
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