Auto loan not reporting...EQ

[pauper66]

I Bought a new truck on June 2 of this year. It showed in July on EX and TU. I got a bump from both, as it added to my mix of credit. Previously, only CCs were showing. As of today, it STILL is not showing on EQ, and I have made 4 payments already.

EQ is my lowest score, and "no installment loans" is showing as a factor hurting my score.

Is this typical? Anything I can do to get it on there?

I assume once it finally does appear, the entire payment history will show. Is that a correct assumption?

[Anonymous]

The lender is not required to report it to all three bureaus.  Have you called the lender yet and asked if they are indeed reporting to all three?

If they say they are doing so, ask them to give you the first date they reported it and also the the last time they reported it. 

[Anonymous]

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@pauper66 wrote:

I assume once it finally does appear, the entire payment history will show. Is that a correct assumption?

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IF it finally does appear you are correct, the entire payment history will show.

CGID makes a good recommendation to contact them and find out of they have been reporting to all 3B.  If they have, there's some sort of disconnect there between them and EQ.  It could be something on your EQ report that isn't matching up with what the auto loan has on file, like your name being incorrect, SS# off a digit, something odd like that.

I've had a Citi account for almost 6 months that has yet to show up on my TU report (but showed up 1 month in on EX and EQ) and it's because of the suffix on my name, which is somehow not allowing it to show up on TU.  Citi has been working on this for months for me with no solution thus far.  I offer this as an example of how an account may not show up on one of your reports.

[DaveInAZ]

Yeah, some lenders don't report to all 3 CRAs, who is the loan with? I had a car loan with a small local credit union and they only reported it to EQ & EX, so I was getting those "No recent installment loan" messages on my TU FICO reports. I traded the car in for a new one in September and the new loan now reports to all 3, different, larger CU.

[Anonymous]

Bear in mind too that, if your main interest is in getting your score to go up by having an open loan appear, we can suggest a technique that will get your significantly more points than having the auto loan appear.  It's called the Share Secure Loan Technique.

So one strategy is to happily accept that the loan doesn't appear on your EQ report, and then implement the SSL technique; at which point you'll have an even higher score than if the auto loan had appeared. 

[pauper66]

Thanks all for the answers and tips.

It is a small local CU. I will check with them today about reporting. I also took out a small loan with them on Sept 28, and it is showing up on EX and TU already. I know this CU uses Fico 2, and pulls from EX, so when I was trying to buy my truck, I focused primarily on EX during my cleanup/rebuild.

I've seen the SSL technique mentioned here. While it would surely help my EQ, I'm concerned it may hurt my EX and TU as they are now showing CCs, a store card, auto loan and installment loan (which gave a small boost on the two reporting). If/when EQ does pick this up, I should be in the 730s across the board.