When I got my auto loan in March 2012 my EX score was 599 and my interest rate was 7.49%. I was told that I could request a rate reduction anytime in the first 12 months if I felt my credit score had increased. Finally it felt like my score had increased enough for a noticeable reduction... 56 points in 8 months!
I'm getting ready to move and the property management company pulled my EX report and got 655 last week. I figured this was the best time to ask for an interest rate reduction since a large CLI just hit my report and my utilization was super low... Between recent unexpected medical procedures and the holidays it isn't likely to be that low again by the time my loan is a year old. LOL
My CU pulled the same 655 today and reduced my interest rate to 3.95% which saves me $3311 in interest over the 6 year term. I'm budgeting to have it paid off by April 2015 but $3311 is still a hefty chunk of change to have been spending because of questionable credit.
Mar 2012: 03/31/2012 - FICO EX 599 (auto loan pull) EQ 593 TU 602)
Oct 2012: 10/25/2012 - EX (tenant screening) 655 - EQ (myfico.com) 641 - TU (myfico.com) 622
Aug 2020: FICO 8: EQ 690, TU 685, EX 688
700s or Bust!
Starting Score: EQ 717 EX 724 TU 736