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Myfico monitoring

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Senior Contributor

Myfico monitoring

Hey guys not sure if this is the correct place to post this but I need to ask a question . I am getting ready to apply for a car loan in the next month , I wanted to get a copy of my Auto enhanced fico scores , how do I get those, I have been told that myfico let's you buy these scores . Thanks
Message 1 of 11
10 REPLIES 10
Senior Contributor

Re: Myfico monitoring

Are you certain which FICO models the creditors you're applying with use for decisions on auto loans?  The extra scores come with the purchase.  See also -- it's the very first bullet point for each product:

http://www.myfico.com/Products/Products.aspx

 

I don't recall how often they're updated but it's not as often as the FICO 8's.

Message 2 of 11
Senior Contributor

Re: Myfico monitoring

No I'm not certain what exact scores they will be using , I'm sticking to CUs , but someone in the auto threads said it would be a good idea to get a copy of them right bf we are ready to pull the trigger. Thanks for the link .
Message 3 of 11
Super Contributor

Re: Myfico monitoring

Here's my 2 cents.  Before you buy all your scores (which can be pricey for just one pull) you might want to huddle with some people here and get some general advice on how to improve your scores in a very short time.  (Basically, make sure that your credit card balances are in the best possible shape before you lay out the money for that score pull.)

 

There's also a chance that your standard FICO 8 scores are so high now that pulling your Auto Scores would be just a waste of money. 

 

So my advice personally is to pull your TU and EQ reports through Credit Karma (though the scores will likely not be used be the lender).  That will cost you nothing.  Then work with people on how to improve the reports as fast as you can.  You'll be able to get free updates to your reports once a week.

Message 4 of 11
Senior Contributor

Re: Myfico monitoring

Thank you for the advice , I have been repairing and building credit since the beginning of this year and have made great strides , I have one more baddie with is a SL I defaulted on 3 years back when my mom passed , I have just made my last rehab payment for that and it will be out of default any day now .
Others on the forum had suggested I have an open installment loan if I don't have one , which when my new SL servicer picks up my loam I will have one then that is open . They said I could see an increase for credit mix . I don't carry any balances , besides leaving about 5 % for UTI purposes . It's just that last baddie that is keeping my scores in the low to mid 600s , hopefully once it all updates I will see an increase .
I have CCT and CK that I check almost daily lol so I keep it with all that since I have been on my journey . It's become rather addicting . I want to reach 700s in the next 6 mths to a year hopefully .
Message 5 of 11
Super Contributor

Re: Myfico monitoring

When do you think the student loan will appear on your reports?  Three weeks?  Three months?

 

 

Message 6 of 11
Senior Contributor

Re: Myfico monitoring

Somewhere around a mth from what I have been told and read on others threads about it .
Message 7 of 11
Senior Contributor

Re: Myfico monitoring

And I am waiting no matter how long it takes until that is updated to app for the car bc without the SLs I lose my AAOA , it would only be like 6 mths of history without them .
Message 8 of 11
Super Contributor

Re: Myfico monitoring

So the SLs when they appear will increase your profile's age a lot?  Sounds like a good choice then to wait.

Message 9 of 11
Senior Contributor

Re: Myfico monitoring

Yes once you go thru rehab , they take the old bad Tradelines off your reports most of the time***some don't get lucky and they are left there but all notation on default and past due are removed . Then when the new servicer picks up my loan they will then report it back to its orginal date of opening , perfect payment history .
Message 10 of 11
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