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I read the forum first and couldnt find my answer...sorry

New Member

I read the forum first and couldnt find my answer...sorry

My auto loan will be paid off in December. I havent had any lates since January 2007. Will this affect my score any. Its the only account I had open so I applied for a Orchard card and was approved. Thanks alot and enjoy your day
EQ-503 as of 8/13/08
EQ-521 as of 09/10/08
EQ-550 as of 09/30/2008
EQ-570 as of 07/20/2009
Message 1 of 4
3 REPLIES
Valued Contributor

Re: I read the forum first and couldnt find my answer...sorry

If it is your only installment loan, and it sounds like it is, your score may go down.

I think you should get a couple more revolving accounts.
Message 2 of 4
New Member

Re: I read the forum first and couldnt find my answer...sorry

Thank you!! I have the Orchard and a Credit One, I wonder if thats enough. With such low scores its hard to get anything.
EQ-503 as of 8/13/08
EQ-521 as of 09/10/08
EQ-550 as of 09/30/2008
EQ-570 as of 07/20/2009
Message 3 of 4
Valued Contributor

Re: I read the forum first and couldnt find my answer...sorry

There are no guarantees of course, and the cleaner your reports the better, but you could try a secured card from BoA, Citi, or National City, and you might be able to get a Target or Macy's card.
Message 4 of 4