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Student loans reporting balance only / utilization?

Established Contributor

Student loans reporting balance only / utilization?

My student loans are reporting a balance only, which is adjusted each month as I make a payment. 

 

There is no original balance or credit limit showing so does this mean it will appear as 100% utlization on these?

Fico: 701 (5/22/14) 682 (5/9/2014)
Discover IT $5,200 / CU Visa $1,000 / JC Penny$3,000
App Free since 2/2013
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Established Contributor

Re: Student loans reporting balance only / utilization?

Does anyone know if there is a way to get FedLoan Servicing to report the original balance AND the current balance to show better utilization on my CRs?

Fico: 701 (5/22/14) 682 (5/9/2014)
Discover IT $5,200 / CU Visa $1,000 / JC Penny$3,000
App Free since 2/2013
Message 2 of 6
Senior Contributor

Re: Student loans reporting balance only / utilization?

My FedLoans have always shown the original loan amount; I don't know why yours do not.  Call & ask?

Latest scores: Walmart TU: 769. MyFICO TU: 769. DCU EQ: 755. MyFICO EQ: 780. PSECU EX: 756. MyFICO EX: 780.
Message 3 of 6
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Established Contributor

Re: Student loans reporting balance only / utilization?

Will do, thanks!

Fico: 701 (5/22/14) 682 (5/9/2014)
Discover IT $5,200 / CU Visa $1,000 / JC Penny$3,000
App Free since 2/2013
Message 4 of 6
New Member

Re: Student loans reporting balance only / utilization?

According to Credit Karma the student loans do not reflect on your utilization percentage. They use transunion, so I am not sure if it completely correct (also, I'm new to all of this).

Message 5 of 6
Established Contributor

Re: Student loans reporting balance only / utilization?


CreditKate wrote:

According to Credit Karma the student loans do not reflect on your utilization percentage. They use transunion, so I am not sure if it completely correct (also, I'm new to all of this).


This is correct.  Loans are not used in your utilization calculation, only revolving credit such as credit cards.


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