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Lenders that Use Experian and TU

Your FICO® Scores can impact your loan interest rates, terms, approvals and more.
Frequent Contributor

Lenders that Use Experian and TU

All,


Do you know which lenders use Experian and TU? Myficos are : 653 (exp), 628 (tu), and 596 (equifax) (self pull from this site and experian direct)...not lender pulled scores.

 

I need to refinance an $18K car loan (57K miles) (10.5% capital one) and finance another one for around $16K. I do have a dismissed BK on file (12/11), but a clean report with no current lates in the past 12 months...7 on time accounts with several "settled accounts with zero balances. I have about 1% utilization on my cc's.

 

I need to travel alot with many miles...would leasing be an option?


Any feedback would be appreciated.

 

Phumanr

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2 REPLIES 2
Valued Contributor

Re: Lenders that Use Experian and TU

Leasing would not necessarily be a good option if you travel a lot. Usually the max miles allowed are 15,000 a year but some lenders allow you to buy more upfront if you need it. Not sure your scores are good enough for a lease. Have you had perfect payment history on your current auto loan? If yes, the auto enhanced score the dealer pulls might be high enough to qualify you. The nice thing about a lease is the payments are lower. Now if you plan to finance the residual value of your lease at the end of the lease (known as a buyout), how many miles you put on it doesn't matter. Honda and Acura pull either TU or Experian. When I leased a vehicle through Acura last month, they pulled Transunion. My normal TU fico is 703 but auto enhanced, it was 724...4 pts higher than the min requirement to get tier 1 leasing special as advertised.
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! Smiley Happy Last App: 4/5/13 Gardening until July 2014
Message 2 of 3
Frequent Contributor

Re: Lenders that Use Experian and TU

Hello,

Yes, I have had a perfect paying history on my current car. It sounds like leasing may not be a good option. I will try to refinance first, and then see if I can qualify for a second vehicle....just trying to what options I have. 

Message 3 of 3