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car loan a year old next month

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timmyc38
Member

car loan a year old next month

I have car loan, which has been paid on time, every time for a year now , in March,. Will  I get a points increase? Like a one year bonus or something..
Message 1 of 7
6 REPLIES 6
fused
Moderator Emeritus

Re: car loan a year old next month

Maybe, its very difficult to say. You might or might not get points for the 12 months of on time payments, and you might or might not get points for the balance on the note decreasing. As for points on the 1st anniversary, again maybe, maybe not. YMMV, but I wouldn't expect much.
Message 2 of 7
timmyc38
Member

Re: car loan a year old next month

YMMV?
Message 3 of 7
timmyc38
Member

Re: car loan a year old next month

weak, the CB's should give bonus points on one year anniversaries !
Message 4 of 7
laz98
Senior Contributor

Re: car loan a year old next month

Your Mileage May Vary (meaning your experience may be different)
Message 5 of 7
MarineVietVet
Moderator Emeritus

Re: car loan a year old next month

Message 6 of 7
RobertEG
Legendary Contributor

Re: car loan a year old next month

Auto loans are installment loans, and dont have a lot of impact on FICO scoring, unless you miss a payment.

Your AAoA is gradually increasing, but this is also minimal on a one-year account.  I see little expected gain.

 

Message 7 of 7
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