I just signed up for a loan that I immediately regret. I have 3 days to back out according to the contract. I know my credit will be docked a couple of points because I had my credit checked, but will this affect my credit in any other way? The way I understand it, I return the product and the contract can be cancelled. Will this show up on my credit report since there will have been no debt?
When I first checked my credit here on myfico.com in April, my Experian score was 613. When I checked again today, it was 641. I've been making payments on time and reducing credit card debt, and I'm very proud of myself. Now I've been beating myself up over this sudden act of stupidity as I found myself signing up to buy something I don't need, and I hope it won't ruin my credit again. 
Thanks
Thanks.
I don't think anything happened actually. By a fluke in their system they hadn't cashed my down payment yet, and I hadn't talked with the loan company to give them information they would have needed to finalize the transaction. So I returned the product and signed some paperwork to nullify the loan. I believe it won't show up on my credit at all. I probably lost a couple of points for a hard pull on my credit report, but that was it. Much simpler than I expected. 