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NFCU SSL Reporting..next steps?

lowspender
New Contributor

NFCU SSL Reporting..next steps?

Not a post I thought I'd be making! Wanted to ask if I should apply for a CLI on my chase freedom, or apply for an Amex first. Since Chase cited "no installment loan history" in giving me such a low limit, thought my bright and shiny new SSL boost would help. Anyways..

Forum reading shortly after joining a month ago led me to realize I was a perfect candidate for an SSL. None closed, no history, etc. Thanks to those who posted data points over the years and CreditGuyinDixie for the detailed "why" and Alliant alternatives.

 

Events timeline:
-Joined Navy 12/9.

-12/14- Applied/Approved for $3,050 SSL (received email approval before I got off the 10 min application call. Impressively quick, imo Smiley Happy 
-12/15- Already had bank transfers to Navy in process, made payment for $2781.78 (a hair under the 8.9%).
-Clears a day or so later. I left the funds in my Share Savings, for what that's worth.

 

Been waiting for this to report, thought it would hit on the 1st of '21..
-1/6, got the email I expected from Ckarma (who I have been using for my TU/Exp this whole time).
"You've hit a personal loan milestone"- inside- you paid off 90% or more of your personal loan.

Immediate thought was..no, it was 91.21%! If that got reported as 90%.. haha

-Email later on 1/6 asking if this "new account" was mine.
"It looks like a new account was added to your Equifax credit report.*
This could impact your credit score by lowering your average age of open accounts or increasing your total number of accounts."
Fine, happened with my last cc. A little strange the first email was a milestone and this one seemed negative, as far as aaoa... 


What I *didn't* get as I expected was the "New Score Alert."

Logged in that night and the next day, same. On the site it lists me as having paid off 92% of the loan. The delay between application and reporting seems to be a few weeks. I haven't seen where there's a time between it being reported and it affecting your score..

 

Also paid off a few more purchases with the cc's even more than normal, to drop my u.r from 16% to 3%. Was at 8% the month before, had a single purchase report before I paid it off a few days later. Figured the drop plus the ssl would maximize things for me.

Still down from 770 a few months ago, maybe due to azeo I was unintentionally practicing, I'm usually at 5% though so that doesn't quite explain it either.
TU at 762, Exp at 755, up 2 and 3 points respectively, with my decreased balances.

Oldest account is 5yr 8 month, AAOA now about 2 yr 3 months with recent SSL and 4 month old CC.
100% on time payment history, 0 missed payments.
Can get a screen grab from the account with some info blurred if that helps. 
What did I do wrong to get such a special result, or what am I waiting on...

Message 1 of 43
42 REPLIES 42
Saeren
Mega Contributor

Re: NFCU SSL Reporting..first ever 0 point gain?

You mention Credit Karma. Is that where you are getting your scores? FICO scores should have moved but Vantage does what it wants to do which is why creditors don't usually use it. You can sign up at Experian.com for Credit Works and pull your FICO scores for all three bureaus for either free or $1 depending on what they offer you. 





Message 2 of 43
lowspender
New Contributor

Re: NFCU SSL Reporting..first ever 0 point gain?


@Saeren wrote:

You mention Credit Karma. Is that where you are getting your scores? FICO scores should have moved but Vantage does what it wants to do which is why creditors don't usually use it. 


Always used Karma, yeah.. changes to score are often monthly for me. So it won't ever show up through vantage or it won't be timely? 

Sounds like I need to check fico. Will that also graph out or list change over time? Otherwise how would I know the impact of the tool? Don't have a prior history to note any current differences against..

Message 3 of 43
M_Smart007
Epic Contributor

Re: NFCU SSL Reporting..first ever 0 point gain?

Seriously, I would be checking real FICO8 scores. As Saeren mentioned upthread.

Message 4 of 43
Birdman7
Super Contributor

Re: NFCU SSL Reporting..first ever 0 point gain?

If you don’t know your previous score than there’s no way to gauge the difference. The only issue I see is that you paid it down a day later before it initially reported.

We had one report of someone doing that and the proper amount of the original loan was not reported and they didn’t get the benefit, if I recall correctly. someone correct me if I’m wrong. I don’t know if they got it resolved or not.
-Community’s scoring wisdom: Scoring Primer.
-New: MORTGAGE SECTION.
-Negative Reason Codes: CassieCard’s Score Factors.
-Calculate metrics with ccquest’s Workbook.

Clean/Thick/Mature/No New Revolver - 8,9; Clean/Thick/Mature/No New Account - 5/4/2.
Correct Ag.Util. under 5% all times. (Oldest/avg varies. Estimates above.)
Real world mortgage maxes are: EQ5-818, TU4-839, EX2-844.



RIP:

(Everything said is JMHO and is not endorsed by FICO or MF. I have no affiliation with either, just a grateful member.)
Message 5 of 43
Saeren
Mega Contributor

Re: NFCU SSL Reporting..first ever 0 point gain?


@Birdman7 wrote:
If you don’t know your previous score than there’s no way to gauge the difference. The only issue I see is that you paid it down a day later before it initially reported.

We had one report of someone doing that and the proper amount of the original loan was not reported and they didn’t get the benefit, if I recall correctly. someone correct me if I’m wrong. I don’t know if they got it resolved or not.

It was me. I had to wait a month for it to clear up. I did end up getting the full benefit but I had one month with it maxed out. OP has already said they got an alert that they paid off 90% so that's not the case here. 





Message 6 of 43
Birdman7
Super Contributor

Re: NFCU SSL Reporting..first ever 0 point gain?


@Saeren wrote:

@Birdman7 wrote:
If you don’t know your previous score than there’s no way to gauge the difference. The only issue I see is that you paid it down a day later before it initially reported.

We had one report of someone doing that and the proper amount of the original loan was not reported and they didn’t get the benefit, if I recall correctly. someone correct me if I’m wrong. I don’t know if they got it resolved or not.

It was me. I had to wait a month for it to clear up. I did end up getting the full benefit but I had one month with it maxed out. OP has already said they got an alert that they paid off 90% so that's not the case here. 


@Saeren that's right, that was you, I forgot. Well that's just one bureau so we don't know what happened at the other ones, so that's why I thought it was worth mentioning. 


i'm glad you got it straightened out, at least that way you were able to separate the aging points from the utilization points. Been a while so my memory was foggy. 

-Community’s scoring wisdom: Scoring Primer.
-New: MORTGAGE SECTION.
-Negative Reason Codes: CassieCard’s Score Factors.
-Calculate metrics with ccquest’s Workbook.

Clean/Thick/Mature/No New Revolver - 8,9; Clean/Thick/Mature/No New Account - 5/4/2.
Correct Ag.Util. under 5% all times. (Oldest/avg varies. Estimates above.)
Real world mortgage maxes are: EQ5-818, TU4-839, EX2-844.



RIP:

(Everything said is JMHO and is not endorsed by FICO or MF. I have no affiliation with either, just a grateful member.)
Message 7 of 43
lowspender
New Contributor

Re: NFCU SSL Reporting..first ever 0 point gain?


@Birdman7 wrote:
If you don’t know your previous score than there’s no way to gauge the difference.

That's disappointing. Fico factors into TU and Exp too though, doesn't it.. seems like it would have to make a difference that I could track..
Paying it down a day later- meaning I should have waited longer? It didn't report for a few weeks after, it seemed paying it down right away was acceptable..

Message 8 of 43
Saeren
Mega Contributor

Re: NFCU SSL Reporting..first ever 0 point gain?


@Birdman7 wrote:

@Saeren wrote:

@Birdman7 wrote:
If you don’t know your previous score than there’s no way to gauge the difference. The only issue I see is that you paid it down a day later before it initially reported.

We had one report of someone doing that and the proper amount of the original loan was not reported and they didn’t get the benefit, if I recall correctly. someone correct me if I’m wrong. I don’t know if they got it resolved or not.

It was me. I had to wait a month for it to clear up. I did end up getting the full benefit but I had one month with it maxed out. OP has already said they got an alert that they paid off 90% so that's not the case here. 


@Saeren that's right, that was you, I forgot. Well that's just one bureau so we don't know what happened at the other ones, so that's why I thought it was worth mentioning. 


i'm glad you got it straightened out, at least that way you were able to separate the aging points from the utilization points. Been a while so my memory was foggy. 


That's one of the benefits I got from my app sprees... my credit is so thick now that a new account drops my age by a single month. Very easy to isolate single changes. 





Message 9 of 43
lowspender
New Contributor

Re: NFCU SSL Reporting..first ever 0 point gain?

@Saeren wrote:

You mention Credit Karma. Is that where you are getting your scores? FICO scores should have moved but Vantage does what it wants to do which is why creditors don't usually use it. You can sign up at Experian.com for Credit Works and pull your FICO scores for all three bureaus for either free or $1 depending on what they offer you. 


After paying for a trial at Experian, I am not sure what scores Ck is reporting to me. While I'm sure they're far from a gold standard around here, I've appreciated the TU and Equ updates they've given me. I am offsetting my disappointment in not knowing the actual number jump with results I wasn't expecting..
There's a significant gap between what Ck says are the TU and Equ results compared to what Exp says how those same bureaus score me. 

Biggest factor is Exp sees my length of credit history as "good" but dings me for it in "what's hurting your score," where Equ and TU see it as "fair" but list it in the "what's helping your score section. not confusing.. Smiley Happy

 

I can put actual numbers in, wondering about the order of a few more steps, if that's ok in this subthread. I would alter the title. If not I can put it elsewhere..

 

@Saeren wrote:


That's one of the benefits I got from my app sprees... my credit is so thick now that a new account drops my age by a single month. Very easy to isolate single changes. 

A thin file and fixing that with another card is something I want to figure out next steps for, wherever the place for that is..

Message 10 of 43
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