Established Contributor
Posts: 505
Registered: ‎11-05-2012
loRe: joint auto loan - possible effect
[ Edited ]
  1. yes. when you guy approved firt loan. they will report to 3 CRA . you see your scores go up by you have a good mixed credit.and after 6 months with good payment, your credit will look much better. I start with 11 co and ca. now 2 co , 1 ca. score before installment report to my CR are 62x. after installment reported to my CR it went up to 67x. I still have 2CO with 0 balance. plus 1 medical CO on my CR. first auto loan, they asked for paystub,  after couple good payments, I financed for second, third and cosign for my friend. no one ask for anything.iam not super, but in a good shape now.
10/2012 Started with 588 EQ Fico score and 20+ CA and CO
1750$ total CL
10/2013 in 700 Club
Personal :Total CL 196K
Business : Total CL 200K
Business LOC : 1M
Garden From 10/13/2013