Approved for a loan

[Anonymous]

I am thrilled I got approved for a used car auto loan. I asked for 10000 and I got it. I went to a credit union and they where awesome one of the best customer service ive had with banks or lenders. First financial is the credit union. I have a question they report to all three bureaus. How will that report affect my score? Will it go down? they only pulled eq.

[Anonymous]

sorry would someone please delete this post. just figured where to post approved loans

[pizzadude]

Congrats on the approvals !   What are the terms of your new loan ?

This is the reason why many people like working with CUs, many times they are easier to work with than banks, and the customer service is usually good too.

In terms of your FICO score, having a new account on your CRs will somewhat lower your Average Age of Accounts ( AAoA ).    It may help your mix of credit though, especially if this is your first installment loan.

[Anonymous]

yeah its my first loan and i only have two credit cards one is not reporting yet.  and i to a 3.2 apr  254 monthly payments.  got the warranty and gap with it.

[pizzadude]

Congrats !!  3.2% is a really good interest rate considering it's your first auto loan !

[Anonymous]

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@Anonymous wrote:

yeah its my first loan and i only have two credit cards one is not reporting yet.  and i to a 3.2 apr  254 monthly payments.  got the warranty and gap with it.

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WOW!! a 21 year car loan. Hope you like the vehicle.

Just Kidding. I know you mean that's the $$ amount per month. Congrats on the loan and vehicle purchase.

[Anonymous]

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@Anonymous wrote:

yeah its my first loan and i only have two credit cards one is not reporting yet.  and i to a 3.2 apr  254 monthly payments.  got the warranty and gap with it.

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Excellent terms! My first car resulted in a 15% apr and repossession probably because of the apr!