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How do auto loans report?

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Revelate
Moderator Emeritus

Re: How do auto loans report?


@SouthJamaica wrote:

According to the MyFICO simulator, my FICO 8 scores are going to drop 30 to 35 points when the auto loan reports.


How many did you gain total from the installment loans previously?  Should see identical movement in my experience.




        
Message 11 of 12
SouthJamaica
Mega Contributor

Re: How do auto loans report?


@Revelate wrote:

@SouthJamaica wrote:

According to the MyFICO simulator, my FICO 8 scores are going to drop 30 to 35 points when the auto loan reports.


How many did you gain total from the installment loans previously?  Should see identical movement in my experience.


My share secured loan seemed to be worth about 25 points to me. I don't remember losing 25 points when I opened the loan, but maybe I just blotted it out of my mind Smiley Happy


Total revolving limits 741200 (620700 reporting) FICO 8: EQ 703 TU 704 EX 691

Message 12 of 12
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