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How much is my loan going to hurt?

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Anonymous
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Re: How much is my loan going to hurt?

Hi Camelot.  I agree with SJ 100% -- it would be awesome to get an update from you down the road.  This could be a very helpful "datapoint" for the broader community too.

 

Can you tell us (or remind us) what tool or tools you are using to check your reports and to get your scores?  I have an idea for an ultracheap thing you could do that would end up telling us a huge amount.

 

THE IDEA:  Use the $1 trial with Credit Check Total (today or tomorrow) to grab all three FICO 8 scores and a nice 3B report as well.  That will also tell you what your AAoA is across each bureau, which will be really helpful.  Once you get that you can cancel it.

 

Then after the loan appears on all three bureaus, do the same thing again.

Message 11 of 36
Anonymous
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Re: How much is my loan going to hurt?

I use myfico for all scores and 3 reports. I have premier 3b . I use credit karma, equafax single report and daily update . I use wallethub, Experian monthly . I don't use transunion because it's advantage 3.0 and I get that from credit karma and capital one already
Message 12 of 36
Anonymous
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Re: How much is my loan going to hurt?

Awesome.  What is your AAoA from the three bureaus as of this month?  Your myFICO 3B report from this month will tell you.

Message 13 of 36
Anonymous
Not applicable

Re: How much is my loan going to hurt?

Myfico 3b updates today. Just waiting on auto billing to kick in. Not sure what time of today it will update. I think in early afternoon for me. I'm in Hawaii. It's 9:30 am ATM
Message 14 of 36
Anonymous
Not applicable

Re: How much is my loan going to hurt?

My credit karma as of now says average age of accounts is 6 months. If that helps. I will update when my 3b updates later
Message 15 of 36
SouthJamaica
Mega Contributor

Re: How much is my loan going to hurt?


@Anonymous wrote:
My credit karma as of now says average age of accounts is 6 months. If that helps. I will update when my 3b updates later

Nah, CK computes it totally differently. Only considers open accounts.


Total revolving limits 741200 (620700 reporting) FICO 8: EQ 701 TU 704 EX 685

Message 16 of 36
Anonymous
Not applicable

Re: How much is my loan going to hurt?


@Anonymous wrote:
My credit karma as of now says average age of accounts is 6 months. If that helps. I will update when my 3b updates later

What was your AAoA on your March myFICO 3B report?  That will be all we need, as long as you didn't have any new accounts appear after that.  We can just add a month to whatever your AAoA was in March.

 

Be aware that you might have a different AAoA for each bureau, if the accounts are not exactly the same.

 

SJ is right: Credit Karma is useless as a tool for computing AAoA.  (Though the reports themselves are fine.)

Message 17 of 36
Anonymous
Not applicable

Re: How much is my loan going to hurt?

Las month report was 6 months I got all my credit cards at same time give or take few days. I applied discover , capital one, and first progress all in a matter of 5 days if I recall
Message 18 of 36
Anonymous
Not applicable

Re: How much is my loan going to hurt?

I've had no prior credit of any kind except my closed Wells Fargo secured credit card from 2012 closed in good standing on 2014
Message 19 of 36
Anonymous
Not applicable

Re: How much is my loan going to hurt?


@Anonymous wrote:
Las month report was 6 months I got all my credit cards at same time give or take few days. I applied discover , capital one, and first progress all in a matter of 5 days if I recall


Awesome.  And just to clarify, all those new accounts had appeared on your March report, right?  Not just the inquiries, but also the accounts themselves?

Message 20 of 36
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