*UPDATE* A few questions to kick start my rebuild?!?

[Anonymous]

Thank you we will look forward to your data points. Keep in mind those car inquiries should be scored as one rather than 4 by the algorithm.

[Anonymous]

I received my NCFU card beginning of this past week. Neither the cc or the ssl are reporting to CRA's yet which i know to be common and that it could take a month or two to show up there but my question is once they report the accounts to the CRA's will they report it from the open date and show any on time payments etc up to that point (backdate the info of it takes a month or two to report) or will it just start from that point on my CRA's? In other words, if it takes two months to add will it show the new account plus two months of payments made? Thanks.

[Anonymous]

backdate

[Anonymous]

Perfect. I thought that was the case but wanted to confirm. Thank you sir!

[Anonymous]

Hey guys! So here is an update on where I am at now with the NFCU SSL loan now reporting. Since it's been a month I figured an update was due. My 3rd card, the NFCU secured cc has still not been reported to any of the CRA's, which is fine. I just wanted to let you all know that the only thing that's changed is the addition of the installment loan. When I got the loan I waited until it reported to all 3 agencies before I paid it down so it is still reporting at the 100% loan amount currently until next month. So with the same 2 cards reporting at a 0 balance and the addition of the installment loan (not yet reporting below 8.9% util) my scores jumped up a good bit! 

Before the loan, with only the 2 cc's I had, I was at 

Equifax: FICO 8 - 623, FICO 9 - 670

Transunion: FICO 8 - 611, FICO 9 - 624

Experian: Fico 8 - 610, Fico 9 647

as of this month i'm at 

Equifax: FICO 8 - 651, FICO 9 - 673

Transunion: FICO 8 - 622, FICO 9 - 646

Experian: Fico 8 - 603, Fico 9 644

Not bad! I am eager to see what the scores look like next month once my 3rd cc is reporting and my new loan is showing a balance at less than 8.9% utilization!

[Anonymous]

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@Anonymous wrote:

Hey guys! So here is an update on where I am at now with the NFCU SSL loan now reporting. Since it's been a month I figured an update was due. My 3rd card, the NFCU secured cc has still not been reported to any of the CRA's, which is fine. I just wanted to let you all know that the only thing that's changed is the addition of the installment loan. When I got the loan I waited until it reported to all 3 agencies before I paid it down so it is still reporting at the 100% loan amount currently until next month. So with the same 2 cards reporting at a 0 balance and the addition of the installment loan (not yet reporting below 8.9% util) my scores jumped up a good bit! 

Before the loan, with only the 2 cc's I had, I was at 

Equifax: FICO 8 - 623, FICO 9 - 670

Transunion: FICO 8 - 611, FICO 9 - 624

Experian: Fico 8 - 610, Fico 9 647

as of this month i'm at 

Equifax: FICO 8 - 651, FICO 9 - 673

Transunion: FICO 8 - 622, FICO 9 - 646

Experian: Fico 8 - 603, Fico 9 644

Not bad! I am eager to see what the scores look like next month once my 3rd cc is reporting and my new loan is showing a balance at less than 8.9% utilization!

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@Anonymous Congratulations!!!!! That's totally awesome. These can be great data points! So you only have two cards reporting on your credit report and nothing else changed except the addition of your first and only instalment loan at 100%? Correct?

what services do you have? Will you be able to separate the gains from the third card vs the SSL paydown?

Great job looks like you're going up up up!!

[Anonymous]

@Anonymous @I know! I was pretty stoked. I'm not sure what you mean by services? I don't know that i will be able to separate that since they the card, loan and pay down we're all at the same time but if my scores adjust when one or the other happens or if one still isn't reporting when the scores update next month I'll be able to!  

And yes, you are correct. I previously had two cc's with 0% utilization which is still the case but now i have the loan reporting with 100% utilization as i waited to make the big payment until after they reported at a full balance since some people have had issues with it reported at the lower balance after an immediate payment. 

Neither the 3rd cc or the big payment to get the low below 8.9% util are updated with the CRA's and i have no other loans of any type.

[Anonymous]

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@Anonymous wrote:

@Anonymous @I know! I was pretty stoked. I'm not sure what you mean by services? I don't know that i will be able to separate that since they the card, loan and pay down we're all at the same time but if my scores adjust when one or the other happens or if one still isn't reporting when the scores update next month I'll be able to!  

And yes, you are correct. I previously had two cc's with 0% utilization which is still the case but now i have the loan reporting with 100% utilization as i waited to make the big payment until after they reported at a full balance since some people have had issues with it reported at the lower balance after an immediate payment. 

Neither the 3rd cc or the big payment to get the low below 8.9% util are updated with the CRA's and i have no other loans of any type.

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@Anonymous Awesome! Great DPs! What I mean by services or CMSs is for instance Experian's or a MF subscription or however you get your scores. And I doubt the card will report on the same day as the paydown and as long as they report on different days, you could potentially get score change alerts that allow us to know how many points are attributed to each. 😊

and thank you again for the data points, look forward to the rest!

[Anonymous]

Got it! I have a MyFICO Premiere subscription so I'll keep a look out for it to update one of the other and let everyone know.

[Anonymous]

Awesome thank you!