Not really. I got stuck with a consolidated student loan through local credit union. Everything was great about it until I saw how it looked on credit report. Its listed as a line of credit and killed util. I have 2 ccs each with 500 limit and 0 balance on 1 and 52 on the other. SL is listed as 8676 out of 8670. I just took it out 2 months ago and payment hasn't started to affect the principal.
Altogether it made it 95% util as of last pull. Credit Union can't/won't change how its reported, because its how they do SLs. Wells Fargo denied me due to previous credit history and Chase only consolidate SLs if you have an account with them...I don't.
I thought about taking out personal loan to cover the cost of the student loan, but I'm trying to get mortgage and that would hurt my monthly debt to income ratio. I'm seriously considering this option, it would only bump payment up like $75 a month.
Any suggestions on that.
Also if anybody knows how to get Cap1 to report to CRAs before the statement date, I'd like to know.
@llecs wrote:
SW throws out credit alerts from time to time for key changes to EQ. At the same moment, it'll pull your latest EQ FICO and throw that out. If you got an alert with no change in score, then that score is probably no older that a day as of that alert making your score accurate with regards to 5 dropped collections (congrats BTW). In other words it's very difficult to tell if there was no change after the removal of the five because you don't know if the score was pulled the day all 5 showed or if it was pulled just 24 hours later, the moment of the alert. You might also want to check the alert date.
Odds are that the removal of 5 CAs of 11 won't result in a FICO boost. You'll start seeing movement as you approach a couple of baddies and/or when the newest baddies come off. YMMV on your CR.
Anything else that can immediately boost your score like CCutil improvements?
