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8 hours ago, MarvBear said:

Has anyone ever answered this question?   I'm getting old and somewhat forgetful.  Could someone point me to a definitive conclusion?

I hope this gets answered @MarvBear. I commented on a post that @Theirmomma started as she just did this and should be able to answer accurately. Hopefully she responds. 

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8 hours ago, MarvBear said:

Has anyone ever answered this question?   I'm getting old and somewhat forgetful.  Could someone point me to a definitive conclusion?

It reports every single month.  My Wife and I did it 16 months ago, paid it down to 8% the next day and it faithfully reports every single month.  You also get that 92% right back into your account.

 

Also:  My daughter bought a car a year ago, paid that down to 8% right away and that also reports faithfully.  Her next payment is February of 2022.  She was going to pay cash but I had read the trick works with Auto loans so I talked her into trying it.  That gave her a FICO boost and also works 100%, just like a SSL.

Edited by pacemaker67

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15 minutes ago, pacemaker67 said:

It reports every single month.  My Wife and I did it 16 months ago, paid it down to 8% the next day and it faithfully reports every single month.  You also get that 92% right back into your account.

 

Also:  My daughter bought a car a year ago, paid that down to 8% right away and that also reports faithfully.  Her next payment is February of 2022.  She was going to pay cash but I had read the trick works with Auto loans so I talked her into trying it.  That gave her a FICO boost and also works 100%, just like a SSL.

I understand that, but does it report the payment amount.   I'm used to seeing a data furnisher credit report.  I can tell when and how much your last payment was.  The "trick" may work and work well for folks, but I think any accomplished credit analyst, upon examination, could see exactly what the consumer did.   Don't blame anyone for trying to game the system.

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There's something very strange going on with how my lease is being reported.

 

Depending on the month, the actual payment is being reported correct, or as the payment amount + $1, or as the sum of the two ((payment amount)+(payment amount+$1)).

 

It's this way on the paper reports I got from Equifax and TransUnion in March.

 

On the paper Experian report on the same day, the TL is completely missing.  But I can see it on the Experian app.

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1 hour ago, MarvBear said:

I understand that, but does it report the payment amount.   I'm used to seeing a data furnisher credit report.  I can tell when and how much your last payment was.  The "trick" may work and work well for folks, but I think any accomplished credit analyst, upon examination, could see exactly what the consumer did.   Don't blame anyone for trying to game the system.

On my Experian report it shows monthly payment of $109.  I do have an auto pay set up for $2 per month to be safe but it has not ever reflected that repeated amount to my knowledge.  Just a bunch of green OK's or dots.

 

I suppose any analyst could figure it out but it did give me 25 points initially.

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