Auto loan-help or hurt FICO?

Discussion in 'Credit Talk' started by dave, Apr 26, 2001.

  1. dave

    dave Well-Known Member

    I know that my Equifax score is 730. However, my auto loan isn't being reported to Equifax, only TU and Experian.

    My question is: do you think this will raise or lower my score? I owe about 25% on the loan, and it's my 2nd oldest account (1st oldest on TU and Experian).
     
  2. VJ

    VJ Well-Known Member

    Re: Auto loan-help or hurt FIC

    Any late payments? Is it with a bank or a finance company? How much do you still owe?

    vj
     
  3. dave

    dave Well-Known Member

    Re: Auto loan-help or hurt FIC

    No late payment. No derogs ever on my reports.
    It's with a bank(credit union). I owe $4000 on a $15541 loan.
     
  4. VJ

    VJ Well-Known Member

    Re: Auto loan-help or hurt FIC

    Look Dave its a sweet acct, no doubt.If you need the points for a loan, get it put on. If not, wait untill your under 20%,and if you miss a payment in the meantime, you could reconsider having it added.

    vj
     
  5. Jim

    Jim Well-Known Member

    Try to add it!!

    A nearly paid or better yet paid off auto loan is great for FICO.
     

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