Ford Motor Credit pulls Equifax from what I can determine. I have the cash but want to build up my FICO score by applying for a 3 year car loan. If I pay it off in 6 months will that cause me to receive a lower FICO score than if I pay it off over 36 months?
The longer (older) the loan the better the FICO, it won't hurt you paying it off early but it won't help anything either...I got 0% from Ford Credit with mid 600's score...I had to put a couple thousand down but definitely worth it...how about trying that route?
Thanks I will do that. Believe it or not, my Equifax FICO is 629 with only two accounts which are both negative: One Americredit charge off from 1995. They validated a date of last activity as 10/97 with a settlement. I never settled but Equifax says that is what they are sending in. Erroneous beeper account bill from 1999. Creditor is in process of deleting account.
