Understanding FICO® Scoring

[Nella]

Good Evening Everyone,

I purchased a vehicle back in February of this year. Just wondering for anyone who has purchased

a vehicle recently, did you receive any credit boost after 6 months of on time payments.  

After reading some of the posts I haven't really heard of any boost that people have received.  

Thanks to all who respond 

[pizzadude]

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Nella wrote:

Good Evening Everyone,

I purchased a vehicle back in February of this year. Just wondering for anyone who has purchased

a vehicle recently, did you receive any credit boost after 6 months of on time payments.  

After reading some of the posts I haven't really heard of any boost that people have received.  

Thanks to all who respond 

---

I wouldn't expect much of a noticeable FICO gain, YMMV.

[Nella]

Thanks for respond Pizza Dude.

[bettercreditguy1]

I got an auto loan in March of this year. I regained my lost application points (Fico) in about  three months. There was no appreciable change as to the auto loan although my score did increase an additional couple of points at that time. As always, your mileage may vary. Enjoy your new ride!

[Revelate]

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Nella wrote:

Good Evening Everyone,

I purchased a vehicle back in February of this year. Just wondering for anyone who has purchased

a vehicle recently, did you receive any credit boost after 6 months of on time payments.  

After reading some of the posts I haven't really heard of any boost that people have received.  

Thanks to all who respond 

---

I opened a few accounts in Dec of this past year including an auto loan: as two credit cards and one auto loan ticked over the six month mark, I got a 12 point FICO increase from the prior month, when at the same time I went from 49->61% revolving utilization.  

12 points regardless with a pretty ugly increase in balance (have to assume either 50 or 60% is probably a breakpoint) is pretty substantial in my opinion.

[Nella]

Thanks Revelate...that's good to know.  It might have been your decrease in UTI but any little bit helps!

[Revelate]

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Nella wrote:

Thanks Revelate...that's good to know.  It might have been your decrease in UTI but any little bit helps!

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Perhaps I wasn't clear, I got a 12 point bump even though my Util increased from 49 to 61%.  i.e. the gain probably would've been a non-trivial factor higher assuming my util had stayed flat that month since I suspect either 50 or 60% is likely a revolving boundary.

[Nella]

Got it!  So you did get a lil something, something...good to know =)