Jump to content

Sign in to follow this  
farmerman96

Beacon 5.0 auto

Recommended Posts

I assume this is the auto enhanced scoring model? On a bit of a whim my wife and I applied for an auto loan at a local dealer. This is the second one in 3 months. The first time a different dealer told me that my score was 480 and my wife's was 538 but this time this dealer told my wife she was at 488 and I was 501.

 

Obviously this is an auto enhanced score but I was wite surprised at the difference. My question is this though, do we have an idea what the auto enhanced score puts most weight on? It seems like installment accounts would carry more weight than revolving accounts but that's based on my own logic so who knows what good that is ;).

 

DW and I will be needing a new (newer) auto sooner than later because we will be moving further from work and our current vehicle (1986 Ford f350) is unreliable and only gets 7mpg :(.

 

I have a friend putting myself as an AU on his BofA credit card with 7 years of history but that's about all I can do for positives right now. The expenses from the move have all of our money tied up so can't do a secured card right now.

 

If anybody out there is needing a GP for an AU or is feeling generous I would be happy/grateful ;)

 

Sent from my LG-P509 using Tapatalk 2

 

 

Share this post


Link to post
Share on other sites

Past auto loans have the most affect on the score.. Lates, repos's, collections, etc.

Edited by Brndnh721

Share this post


Link to post
Share on other sites

So I should attack my voluntary report then? Seems reasonable but its within SOL although I never got any notice of auction and the amount reported is the same as when it was repoed so I assume either it was never sold or they are violating laws regarding repossessions. I'm going to post a new thread specific to the repo to see if I can pinpoint which laws are being violated.

 

Thanks for the info regarding auto enhanced. If I were to get the repo off I wouldn't have anything regarding auto loans so I would still have a poor score right?

 

Sent from my LG-P509 using Tapatalk 2

 

 

Share this post


Link to post
Share on other sites

So I should attack my voluntary report then? Seems reasonable but its within SOL although I never got any notice of auction and the amount reported is the same as when it was repoed so I assume either it was never sold or they are violating laws regarding repossessions. I'm going to post a new thread specific to the repo to see if I can pinpoint which laws are being violated.

 

Thanks for the info regarding auto enhanced. If I were to get the repo off I wouldn't have anything regarding auto loans so I would still have a poor score right?

 

Sent from my LG-P509 using Tapatalk 2

It would bring the score up some but the lack of auto a loan will still hurt it.

 

Look at the WhyChat section at the top of the page all the info you need should be in there.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  




About Us

Since 2003, creditboards.com has helped thousands of people repair their credit, force abusive collection agents to follow the law, ensure proper reporting by credit reporting agencies, and provided financial education to help avoid the pitfalls that can lead to negative tradelines.
×
×
  • Create New...

Important Information

Guidelines