@Secretchipmunk7 wrote:Hello.
So I already have an installment loan for credit mix points...
I had to get a Navy Fed pledge loan to build a better internal score. I immediately paid it off to 8% left. I just did this yesterday.
My question is, does this do much for bureau scoring? I know I won't get credit mix points but I'll have an installment paid 92% off on the first report, when it's added I think in a few days. No hard pull and it'll only lower my aaoa by 1 month, if it even does that. (I have a very thick file 😆). If it brings my overall utilization down for loans, it might drop it maybe 2-4%.
Also, how soon will it be on my credit report? I'm reading most have it within 3 days, others a week or two.
I would assume it would add a little? Perhaps 5-15 points?
Be interested to know how much this pledge loan will bump my internal score with Navy Fed. I just have a savings and checking. Not able to make much for deposits because I already have a near by bank that is 1000 times easier to do deposits (Navy Fed doesn't have a location in my state). I also don't want to change bill payment to them anyways.
Further suggestions on how to beef up Navy Fed internal score is welcome.
I don't know anything about the NFCU internal score.
If the new loan was your only loan, the addition of the loan should boost your FICO 8 and 9 scores, and might give a slight boost to some of your other scores.
If it's not your only loan then it depends on what else you have in your loan profile, in terms of balances and original loan amounts.
I'm wondering where you got the information that taking out the loan would boost your NFCU internal score.
@Secretchipmunk7 wrote:Where I got the info it would boost my internal score? Many posts on here, YouTube 🙄, and two different navy federal employees.
I've never heard that. I seriously doubt NFCU tells people how to manipulate its internal score.
If its your only loan. Yes you'll see a gain in points. Forget whats on you tube. If I went by some of those folks. My BK would be gone off my reports according to them. Aint happening.
