I really want to do the SSL NFCU Help With Lump Payment

[Anonymous]

Good day community,

I have been reading alot about this technique and will more than likely do it to increase from a thin credit file to a thick file and gain some fico points.

Looking at how most have paid down the balance right away I am looking to test the waters to see how the outcome changes. Would like to know if anyone has paid down the loan in the second or third month or anytime after that. If they have did they still get the bump in fico points?

Thank you for your help in advance.

[AllZero]

I would recommend reading the below from CreditGuyInDixie
Adding an installment loan -- the Share Secure technique
The Quest for an SSL alternative to Alliant

From SouthJamaica
NFCU SSL

From adrianaesque
Approved NFCU SSL - with detailed steps (May 2020)

[AllZero]

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@Anonymous wrote:

Good day community,

I have been reading alot about this technique and will more than likely do it to increase from a thin credit file to a thick file and gain some fico points.

Looking at how most have paid down the balance right away I am looking to test the waters to see how the outcome changes. Would like to know if anyone has paid down the loan in the second or third month or anytime after that. If they have did they still get the bump in fico points?

Thank you for your help in advance.

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I think the biggest boost comes from aggregate installment loan utilization at 9%. I don't know the other utilization thresholds.

[Anonymous]

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@AllZero wrote:

I would recommend reading the below from CreditGuyInDixie
Adding an installment loan -- the Share Secure technique
The Quest for an SSL alternative to Alliant

From SouthJamaica
NFCU SSL

From adrianaesque
Approved NFCU SSL - with detailed steps (May 2020)

---

Thank you for sharing that information. I have read them, but could not find the answers to my question. They were extremely helpful and informative.

[Anonymous]

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@AllZero wrote:

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@Anonymous wrote:

Good day community,

I have been reading alot about this technique and will more than likely do it to increase from a thin credit file to a thick file and gain some fico points.

Looking at how most have paid down the balance right away I am looking to test the waters to see how the outcome changes. Would like to know if anyone has paid down the loan in the second or third month or anytime after that. If they have did they still get the bump in fico points?

Thank you for your help in advance.

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I think the biggest boost comes from aggregate installment loan utilization at 9%. I don't know the other utilization thresholds.

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Thank you for that info, I believe that is how it has worked for everyone I will get there, and wondering if the same results will come if you choose to do it further down the line instead of at 48 hours, or 7 days. I am looking for the growth in fico scores if the lump payment was made at different statements peiords. If someone has experienced this, please share. I am looking for those that followed a different paths but got the same results.

[Jazee]

Just to make sure I'm understanding correctly what I read about the SSL technique,  this will NOT provide a significant benefit to someone that has an active auto loan and previous auto loans on file with spotless payment history (and has active revolvers with good payment history.) 

Correct?

[Anonymous]

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@Jazee wrote:

Just to make sure I'm understanding correctly what I read about the SSL technique,  this will NOT provide a significant benefit to someone that has an active auto loan and previous auto loans on file with spotless payment history (and has active revolvers with good payment history.) 

Correct?

Correct! The individual that benefits the most is someone that has no open installment loans. However, someone with a clean history and closed installment loans will benefit. Each credit file is different in how much fico score they will gain. It will be worth your while to test it once your auto loan is closed and you do not plan on getting another auto loan for sometime. Then once you have results, update the community with the progress and how it helped you in a positive manner so others will know if they have a similar credit file.

please follow the information below.

@AllZero wrote:

I would recommend reading the below from CreditGuyInDixie
Adding an installment loan -- the Share Secure technique
The Quest for an SSL alternative to Alliant

From SouthJamaica
NFCU SSL

From adrianaesque
Approved NFCU SSL - with detailed steps (May 2020)

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