I recently started my rebuild back January by opening a SP auto loan in Jan a awful APR of 20.99
Credit report has 5 payments in on the loan and my Vantage scores have risen from TU 520 to 654. EQ was a 619 now it's a 651.and my EX was a 580 now it's a 658..
i also have opened 4 CC
Discover it secured $300
Capital one platinum $500
Old navy retail $500
Target Redcard $1800 (2 months and still hasn't reported to any of the CBs)
my only Fico 8 Score at the moment is 717 EQ..still don't have a score generated from TU or EX..hopefully happens soon cuz it's holding me back..from really getting going
I recently opened a account at NFCU (thanks my fico) for two obvious reasons 1) to refi this terrible car loan and 2) too try and land a whale of a SL on my first bigger CC.
I really picked them because they pull EQ,and w my 717 it landed a great 4% APR on my refi dropping my payment $180 bucks a month.took about 10 mins and they cut me a check, for the remainder of what I owe. It's already being reported on my CRs.
My question is, so now when my old Sub prime loan gets paid off. How does that show up on my CRs?
Will it effect me positively or negatively?
That sub prime loan will be paid off in good standing..
BUT if was only open For less then 6 months, does the length of time it was open matter?
Did they want to see that open longer before I re financed it?
Will that loan stay on my CR and because it was paid off in good standing,and help my score?
I know as of right now it's showing up on there like j have 2 car payments, but that's only because I just sent them the check on Saturday morning and it hasn't cleared yet.
Thanks
