cancel
Showing results for 
Search instead for 
Did you mean: 

Honda auto lease

tag
Np1791
Frequent Contributor

Honda auto lease

Honda just reported to my credit bureaus and I got alerted by Experian that my credit dropped. I checked why and it was Honda reporting my new balance after a payment. Okay? I got dinged for making a payment? It then says that my credit limit got decreased. How? It’s a lease aka a loan not a credit line. What should I do? I can’t afford to lose points every month because I’m making payments.
As of 11/28/2018
Message 1 of 3
2 REPLIES 2
Anonymous
Not applicable

Re: Honda auto lease


@Np1791 wrote:
Honda just reported to my credit bureaus and I got alerted by Experian that my credit dropped. I checked why and it was Honda reporting my new balance after a payment. Okay? I got dinged for making a payment? It then says that my credit limit got decreased. How? It’s a lease aka a loan not a credit line. What should I do? I can’t afford to lose points every month because I’m making payments.

Have TU and EQ updated yet after your payment?  How many points did you lose?  My car loan(ALLY), reports as a CFA on Experian only and not on TU or EQ.  I'm hoping this isn't the case for you.

Message 2 of 3
Np1791
Frequent Contributor

Re: Honda auto lease

I haven’t gotten any notifications from the other two bureaus. I’m not sure what a CFA is but my auto is on a lease. I’ve never had this issue before.
As of 11/28/2018
Message 3 of 3
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.