topic Re: Equifax not reporting open accounts in Understanding FICO® Scoring

Equifax not reporting open accounts

docfr8 — Sat, 07 Jul 2007 13:24:17 GMT

In April 2007 I opened up two new auto lease accounts. One with Ford Motor for $29,063 and one with Audi Financial for $15,421. By now there is only 3 month on-time payment history on both accounts.

Both accounts are reporting on my Trans Union and Experian reports but not on my Equifax. Will it improve my Equifax score if I alert and request Ford and Audi to report these two accounts or should I leave as is?

Re: Equifax not reporting open accounts

Tuscani — Sat, 07 Jul 2007 13:41:33 GMT

I would ask Audi to report. Auto loans provide a good mix of credit and you want the TL to report to all three.

Re: Equifax not reporting open accounts

Anonymous — Sat, 07 Jul 2007 13:49:50 GMT

May I ask what your credit scores were at the time you applied for the auto lease? Also did you apply for them on the same day? I leased a car in March 07 and am looking to buy/finance a new car in the next three to four months from a different dealer, while keeping the other lease. My original lease is for a jeep compass of 19000 and i have a new balance of 14500. I looked at a vehicle yesterday and they suggested leasing which may be a good idea. I just wasn't aware that you could lease two vehicles at the same time. Thanks for your response.

@docfr8 wrote:
In April 2007 I opened up two new auto lease accounts. One with Ford Motor for $29,063 and one with Audi Financial for $15,421. By now there is only 3 month on-time payment history on both accounts.
Both accounts are reporting on my Trans Union and Experian reports but not on my Equifax. Will it improve my Equifax score if I alert and request Ford and Audi to report these two accounts or should I leave as is?

Re: Equifax not reporting open accounts

docfr8 — Sat, 07 Jul 2007 15:41:29 GMT

Should I only alert Audi or both Audi and Ford? Will the information improve my Equifax Fico score?

Re: Equifax not reporting open accounts

Anonymous — Sat, 07 Jul 2007 16:08:34 GMT

You should alert both parties. Not having it report is affecting your score. Besides, even though they are new tradelines, they have already aged quite a bit and now they will not hurt your scores anymore. You will reap the benefits of the positive reporting. P.S. My question regarding a dual lease and the scores you had. Thanks, I am going to buy this new car in Sept 07 and wanted to weigh lease vs. purchase. My income supports it. Thank you in advance.

Re: Equifax not reporting open accounts

docfr8 — Sat, 07 Jul 2007 16:16:05 GMT

I applied and was approved on both leases within 3 days

Re: Equifax not reporting open accounts

Anonymous — Sat, 07 Jul 2007 16:16:46 GMT

Thanks, what were your scores at the time?

Re: Equifax not reporting open accounts

docfr8 — Sat, 07 Jul 2007 16:21:48 GMT

My scores were in the low 600's

Re: Equifax not reporting open accounts

Anonymous — Sat, 07 Jul 2007 16:34:24 GMT

@docfr8 wrote:
My scores were in the low 600's

Wow, that's great news! Thank you for your assistance. Also, what were your down payment amounts on the Audi?>

Re: Equifax not reporting open accounts

docfr8 — Tue, 10 Jul 2007 11:58:55 GMT

Tuscani,

Should I request EQ to report both the Ford and Audi auto leases? The payment history is now 3 month.

Re: Equifax not reporting open accounts

Anonymous — Tue, 10 Jul 2007 17:38:02 GMT

On that note, how do you get a bank/credit union to report an auto loan to all three agencies if a pleasant email requesting they do so doesn't work? Any other options?

Re: Equifax not reporting open accounts

SoulSmilen — Tue, 10 Jul 2007 22:52:38 GMT

mhofmann wrote:
On that note, how do you get a bank/credit union to report an auto loan to all three agencies if a pleasant email requesting they do so doesn't work? Any other options?

You could apply for a job there and change their policy as your first action.

Seriously... there probably isn't anything you can do. Creditors aren't obligated to report to any of the bureaus, actually. You can try asking calling and talking to someone in person about it, but unless they already have it in place, it's not likely to happen.

Good luck and let us know how it goes!