I feel cheated!!! After reading the adverse score "not enough debt installment debt experience", I took a closer look at my report to find out why. The increase from 748 to 778 resulted from Premier Auto Finance finally deleting the 1 30-day late pay notation. BUT SLM Financial Corporation, instead of reporting my private education loan paid off, had the tradeline deleted entirely from TU. I make good money, but I took a part-time job to pay this thing off 3 years early & this is what I get! They'll hear from me first thing in the morning! ARRGH!!!!!!!!!!
You may want to rethink that decision. I have it on good authority that "Finance" installent loans actually hurt your score even with good pay histories. It appears that the score jump after deletion confirms that. As odd as it seems, you may wish to leave it alone. Your choice, though.
Really ? Where can I find out more about that? But when it was reporting it said "Installment account student loan individual account" just like my regular Sallie Mae Student loans. In fact, this is a subsidiary company of Sallie Mae. Premier Auto Finance wasn't a bank either, but apparently the positive tradeline helps. I'm hoping when DMB starts reporting my account again & the Fleet car loan shows paid, I'll finally make it to 800 territory.
Marie, thanks for the heads up! I just read some stuff on nolo.com and 101-creditreport.com; I'd better let sleeping dogs lie.
Marie is absolutely right. My TU score is probably 750+ right now, because in part, my 4 Sallie Mae "finance" trades were mysteriously deleted. My Equifax and Experian are both "stuck" at 660 and they have all four trades showing. One CC company listed this as a denial reason - too many finance accounts opened in the past 24 months. Nearly everything else on my reports are identical except the number of student loan trades being reported.
