I have a three month old auto loan currently at 94% of loan value.
For some strange glitch of a reason, yesterday the loan was reported as paid down to 21%, only on TU and EQ. EX still shows the correct remaining balance. Weird. My EX FICO8 has stayed exactly the same foir the last several weeks, and still is.
But my EQ FICO8 score, noting the new installmenbt loan balance, increased precisely 20 points. I presume my TU score has increased similarly, but probably will not check. I know this is not really new information, but I thought the manner it was collected was interesting.
As to why this balance was reported incorrectly to TU and EQ, I have no idea. Unfortunmately the loan service has the correct balance listed in their records. 
Last note, I think EX sometimes updates slower, it is possible the balance there will incorrectly change in a couple days as well.
@BallBounces wrote:I have a three month old auto loan currently at 94% of loan value.
For some strange glitch of a reason, yesterday the loan was reported as paid down to 21%, only on TU and EQ. EX still shows the correct remaining balance. Weird. My EX FICO8 has stayed exactly the same foir the last several weeks, and still is.
But my EQ FICO8 score, noting the new installmenbt loan balance, increased precisely 20 points. I presume my TU score has increased similarly, but probably will not check. I know this is not really new information, but I thought the manner it was collected was interesting.
As to why this balance was reported incorrectly to TU and EQ, I have no idea. Unfortunmately the loan service has the correct balance listed in their records.
Last note, I think EX sometimes updates slower, it is possible the balance there will incorrectly change in a couple days as well.
Nice.
Another data point showing 9% B/L ratio is not the magic bullet for improving score with auto loans. Substaintial cummulative point gain is possible prior to 9%. That being said, 9% remains a critical threshold for a file with only an open SSL.
@Thomas_Thumb wrote:
@BallBounces wrote:I have a three month old auto loan currently at 94% of loan value.
For some strange glitch of a reason, yesterday the loan was reported as paid down to 21%, only on TU and EQ. EX still shows the correct remaining balance. Weird. My EX FICO8 has stayed exactly the same foir the last several weeks, and still is.
But my EQ FICO8 score, noting the new installmenbt loan balance, increased precisely 20 points. I presume my TU score has increased similarly, but probably will not check. I know this is not really new information, but I thought the manner it was collected was interesting.
As to why this balance was reported incorrectly to TU and EQ, I have no idea. Unfortunmately the loan service has the correct balance listed in their records.
Last note, I think EX sometimes updates slower, it is possible the balance there will incorrectly change in a couple days as well.
Nice.
Another data point showing 9% B/L ratio is not the magic bullet for improving score with auto loans. Substaintial cummulative point gain is possible prior to 9%. That being said, 9% remains a critical threshold for a file with only an open SSL.
Indeed! 21%, well above 9 or 10. So many shorthand "rules" we throw around are really just approximations based on us feeling around in partial darkness...
@BallBounces wrote:
@Thomas_Thumb wrote:
@BallBounces wrote:I have a three month old auto loan currently at 94% of loan value.
For some strange glitch of a reason, yesterday the loan was reported as paid down to 21%, only on TU and EQ. EX still shows the correct remaining balance. Weird. My EX FICO8 has stayed exactly the same foir the last several weeks, and still is.
But my EQ FICO8 score, noting the new installmenbt loan balance, increased precisely 20 points. I presume my TU score has increased similarly, but probably will not check. I know this is not really new information, but I thought the manner it was collected was interesting.
As to why this balance was reported incorrectly to TU and EQ, I have no idea. Unfortunmately the loan service has the correct balance listed in their records.
Last note, I think EX sometimes updates slower, it is possible the balance there will incorrectly change in a couple days as well.
Nice.
Another data point showing 9% B/L ratio is not the magic bullet for improving score with auto loans. Substaintial cummulative point gain is possible prior to 9%. That being said, 9% remains a critical threshold for a file with only an open SSL.
Indeed! 21%, well above 9 or 10. So many shorthand "rules" we throw around are really just approximations based on us feeling around in partial darkness...
For whatever reason this caused me to think about Darkness on The Edge of Town by Bruce Springsteen. Now I'll have to dig out my half speed mastered vinyl pressing and play it on my vintage 1979 Yahama YPD8 turntable with Grado platinum cartridge.