cancel
Showing results for 
Search instead for 
Did you mean: 

Car loan Account reporting to CRA?

tag
Anonymous
Not applicable

Car loan Account reporting to CRA?

I have a car loan through the dealership not a creditor....which started in 2010 never late but at 18% never reporting but they offered to report the loan to help me build my credit.

 

Now that my scores are higher i just got approved from my local bank and want to refi at 6% I know that my bank will report every month, but I'm wondering if asking hte dealership to report since start of the car loan until today as a $0 balance closed never late installment will raise my score?

 

Will it hurt my score or AAoa or is it worth asking them to do it?

Message 1 of 5
4 REPLIES 4
llecs
Moderator Emeritus

Re: Car loan Account reporting to CRA?

Is your AAoA older than one-year?

Message 2 of 5
Anonymous
Not applicable

Re: Car loan Account reporting to CRA?

Your oldest account was opened
10 Years, 9 Months ago

 

Average age of your accounts 5 years


Ratio of your revolving balances to your credit limits

33%

 

Your most recent late payment happened
5 Years, 4 Months ago

Message 3 of 5
Anonymous
Not applicable

Re: Car loan Account reporting to CRA?

That is my report from Jan of this year on myfico but I did recently open a new credit card about a month ago

Message 4 of 5
llecs
Moderator Emeritus

Re: Car loan Account reporting to CRA?

If you are adding a one-year old TL to a 5 year AAoA, then your AAoA could take a hit. You'd have to do some math to see if it slips to 4 yrs, 3 yrs, etc.

 

Message 5 of 5
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.