cancel
Showing results for 
Search instead for 
Did you mean: 

48 point score drop from auto loan

tag
Anonymous
Not applicable

48 point score drop from auto loan

Is it normal to see a score drop when an auto loan tl reports? I just dropped 48 points on EQ and 35 on TU not sure about EX yet. This seems drastic to me. When can I expect to see my scores go back up. 

Message 1 of 5
4 REPLIES 4
SamsungHDTV
Established Contributor

Re: 48 point score drop from auto loan

Its normal, plenty of other members have reported the same thing. However, I don't know when you can expect the scores to recover. I'll let someone else chime in on that.

Message 2 of 5
Anonymous
Not applicable

Re: 48 point score drop from auto loan

Sorry for the duplicate thread. I do see now another similar thread. I finally got both of my scores into the 700 range and now back to the low 600's I have no other choice, but to garden now. 

Message 3 of 5
Anonymous
Not applicable

Re: 48 point score drop from auto loan


@Anonymous wrote:

Is it normal to see a score drop when an auto loan tl reports? I just dropped 48 points on EQ and 35 on TU not sure about EX yet. This seems drastic to me. When can I expect to see my scores go back up. 


I just went through the same thing this week. My EX dropped 27 points and TU dropped 3 points. Apparently, it's normal for your scores to drop a fair amount. I think I remember reading that some have dropped a good 80 points so we should count ourselves lucky.

Message 4 of 5
TRC_WA
Senior Contributor

Re: 48 point score drop from auto loan

I had a 16k loan report a payoff and a $44k loan report as new this week.

 

EQ dropped 4 points.

 

EX gained 6 points.

 

No word yet from TU.

 

This is my 3rd auto loan in 10 years... EQ enhanced was 707 at purchase.

FICO8 current as of : 4-17-24 EQ: 724 TU: 707 EX: 706
Hard INQs last 12 months: EQ: 5 | TU: 8 | EX: 9
Verizon Visa $8500 Amex Delta Reserve $10,000 Care Credit $18,000
NFCU CashRewards $7500 Apple Card $7000 Best Buy $8000 Amazon $5000
NFCU auto loan (2022 Ford Bronco Sport Badlands - Cactus Gray) 6.95%
NFCU motorcycle loan (2024 Harley Davidson Road Glide - Alpine Green & Chrome) 9.45%
Total CL: $64,000 --- Total CC UTI: 27% --- AAoA: 5.5 years --- Income: $200k
Last app: 4-6-24
Message 5 of 5
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.