@Anonymous wrote:
Thanks, @Anonymous , that is definitely good to know. I've already signed the loan docs and see the money back in my account from the loan although the loan isn't showing up in my accounts yet for payments, etc. I'll just wait until it hits my credit report and shows the full amount then pay it down and let it ride. It will report to all three bureaus, correct?
Also, once I pay the $2,700 ish payment will that money be returned to my savings account again, or is it held until the loan is pif in 5 years? If that makes sense.
@Anonymous sorry for the delay but as stated, as you pay it down, they release the same amount of funds you pay down. So basically your money is only tied up for a very short time except for the 9%.
Yes that's correct and yes it will report to all three bureaus. You're good to go it sounds like! You're in for some nice score returns.
I would recommend staying in the garden for 12 months at a minimum. But for best score across all versions, 5 cards is best, imho, so you might look around and see if there's 2 more cards you want and if so hit the go button when the card you just got turns 12 months old. It's best to go ahead and get them and get it over with and then stay in the garden, because the longer you're in the garden, the better your ages get.
Would be nice for you to contribute your data points as the third card reports and as the SSL reports and as the paydown reports! We would be grateful, and if possible try to hold utilisation and number of accounts constant if you can based on reporting date, so the DPs are not conflated, if possible.
