Hi Everyone wondering what you score experts think about this. My Experian FICO 2 decreased from 711 to 704. The only change to my report was a paid off car loan. The negative reason codes I received with the score all made sense except one. The reason code I’m questioning said: “You have a lack of recent activity from a non-mortgage installment loan” which is incorrect because I do have a student loan listed on my report with a $35K balance. I’ve tried contacting people about this but I can’t get enough information over the weekend and it’s bothering me. Does anyone know of anyway in which this reason could apply to a person who has an open installment loan? The loan last reported in May could this be the reason for this code? Its listed as my 3rd negative reason code right before “recently looking for credit” so I think it must be costing me more than the number of points I lost for the HP that I have on my Experian report. Is there any chance it’s not costing me any points?
See below for code data:
I'm wondering if this could be related to a problem in the way my student loan is being reported. I am actively paying the loan and I don't see anything unusual in how it's being reported.
Has anyone ever seen something like this before?
@Hex wrote:Hi Everyone wondering what you score experts think about this. My Experian FICO 2 decreased from 711 to 704. The only change to my report was a paid off car loan. The negative reason codes I received with the score all made sense except one. The reason code I’m questioning said: “You have a lack of recent activity from a non-mortgage installment loan” which is incorrect because I do have a student loan listed on my report with a $35K balance. I’ve tried contacting people about this but I can’t get enough information over the weekend and it’s bothering me. Does anyone know of anyway in which this reason could apply to a person who has an open installment loan? The loan last reported in May could this be the reason for this code? Its listed as my 3rd negative reason code right before “recently looking for credit” so I think it must be costing me more than the number of points I lost for the HP that I have on my Experian report. Is there any chance it’s not costing me any points?
See below for code data:
I'm wondering if this could be related to a problem in the way my student loan is being reported. I am actively paying the loan and I don't see anything unusual in how it's being reported.
Has anyone ever seen something like this before?
It appears to be from a lack of update in June.
The detailed description of the reason code saying "lack of sufficient recent information" is gonna be the culprit here.
That reason code is towards the bottom so I don't believe it's costing too many points.
When your creditor updates the account you'll recoup those points and that code will vanish.
@Anonymous
Thanks for replying. That's something I am wondering about too but I don't see any indication of this on the data from myFICO or Experian.com. This account was placed in deferment or forbearance (or whatever they were calling it) when the CARES act was passed. I noticed about a week after they changed it and I had them reverse it. At that time my Experian score went down because of it but they fixed it (I thought) and my points came back. I remember it had something to do with my servicer (Great Lakes) but I think it also caused problems with Experian that I didn't see from the other bureaus. I'm having a hard time remembering the details. 
This is the account information as listed in Experian:
Maybe it's supposed to say something other than "Open" under payment status? I went to get my report at the annual credit report site hoping for more details but the site wouldn't let me get my Experian report.
@Hex wrote:@Anonymous
Thanks for replying. That's something I am wondering about too but I don't see any indication of this on the data from myFICO or Experian.com. This account was placed in deferment or forbearance (or whatever they were calling it) when the CARES act was passed. I noticed about a week after they changed it and I had them reverse it. At that time my Experian score went down because of it but they fixed it (I thought) and my points came back. I remember it had something to do with my servicer (Great Lakes) but I think it also caused problems with Experian that I didn't see from the other bureaus. I'm having a hard time remembering the details.
This is the account information as listed in Experian:
Maybe it's supposed to say something other than "Open" under payment status? I went to get my report at the annual credit report site hoping for more details but the site wouldn't let me get my Experian report.
Hmmm that is curious, I am not sure, then.
My auto loan started reporting, but my negative reason codes for the auto enhanced scores still shows "no recent auto loan activity", which is clearly untrue.
I am hoping now that my first payment reported that the specific "no auto loan" negative reason code goes away. I will be doing a 3B pull this week and double check.
Edit:
Looks like even after first payment reported, I am still getting the "no auto loan activity" negative reason code for EX A2.
Hmmm that is curious, I am not sure, then.
My auto loan started reporting, but my negative reason codes for the auto enhanced scores still shows "no recent auto loan activity", which is clearly untrue.
I am hoping now that my first payment reported that the specific "no auto loan" negative reason code goes away. I will be doing a 3B pull this week and double check.
Edit:
Looks like even after first payment reported, I am still getting the "no auto loan activity" negative reason code for EX A2.
That's really odd it seems very similar to my untrue reason code. I was under the impression that if you got a reason code you were losing points but maybe that's not true. I plan to call Experian and/or myFICO and find out. I will report back.