will 2yr GOOD car loan increase or decrease FICO??

Anonymous · ‎03-20-2008

Ok..here is a good question that i have no idea the answser. We have a GOOD car loan that is 2 yrs old and has never been late. It is only reporting to 2 bureaus and is NOT reporting to Transunion. Will having the lender report it to TU do me more harm or good? Hoping the good account would help? however, will it drop b/c of a new account? Hopefully it won't be technially "new" since I have had the acct for 2 yrs w/good payment history?? I would appreciate any help you can provide! I am so thankful I have found this board. You have already helped me soooo much in the past few days!

Anonymous · ‎03-20-2008

one more thing... TU is also my LOWEST score right now... though that seems to be changing hourly these days!

Anonymous · ‎03-20-2008

It will help your score. It won't show as a "new" account either. It will show as the proper age. Hope this helps

Anonymous · ‎03-21-2008

a 2 year good anything can only help. I have a 3-year auto lease, which started in May 2005. When the lease began, I took a score hit. However, as the months go by and I make my monthly payments (always on time), my score has been creeping back up and has surpassed where it was when the lease began.

Anonymous · ‎03-21-2008

Thank you everyone! The girl I spoke to lastnight said they would do it. I need to call back on Monday.

It is not showing on TU and this is my lowest. Hoping it will make a difference!

Anonymous · ‎03-22-2008

@Anonymous wrote:
Thank you everyone! The girl I spoke to lastnight said they would do it. I need to call back on Monday.

It is not showing on TU and this is my lowest. Hoping it will make a difference!

Let us know what kind of difference it makes

Anonymous · ‎03-22-2008

absolutely will do! Given the bad luck I have had w/FICo lately, it will probably make it drop 50 pts...uggghhh!

RobertEG · ‎03-22-2008

Does you lendor even put credence clearwater revival on what TU reports or scores? I would think that any lendor who understands credit scoring would clearly see that any score diff was based upon TU's ignorance of the two year TL history and improved credit mix from the loan they are not recording, especially since it is being reported to the other two bureaus. Put it to them.