Adding to the mix

[dawnm72174]

In addition to my new CCs, hubby is adding me to the car loan so I have a more diversified portfolio (wrong word?). It's not a refi at this point but that will be in the works in the very near future. Or we will be trading in my beloved car for a newer model year. My auto enhanced FICO score is significantly higher than his (both are climbing) so come refi or new car, we definitely shouldn't have a problem getting an APR lower than the current 21% (hard lesson learned about getting approved before visiting the dealer.)

although im more focused on achieving a clean report, I'm excited to see what adding this loan will do. Anticipating an initial drop but I have a feeling I'll either meet or come close to my 650 goal with 1 never late paid off loan and an open, never late loan.

my AAoA is 2.5 years so I'm also curious how much this 6 month old loan will change it.

"Just keep swimming." - Dory

[newstart2010]

it willmost likely drop your score some.  is the auto loan payment history clean and clear?  What is the rest of your profile like and how is your utilization on the accounts you have open now?

[dawnm72174]

And in other news, three CAs Are PIF, the judgement will be middle of this month and satisfaction will be filed. That's a total of 7 collections paid and deleted.

[dawnm72174]

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@newstart2010 wrote:

it willmost likely drop your score some.  is the auto loan payment history clean and clear?  What is the rest of your profile like and how is your utilization on the accounts you have open now?

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Hubby's loan has perfect payment history. 

Lim currently in cleanup status but have made great headway since starting late last year.

current util is 2% Have yet to pay any interest because everything is PIF every month. Learned a lot on these boards

[Anonymous]

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@newstart2010 wrote:

it willmost likely drop your score some.  is the auto loan payment history clean and clear?  What is the rest of your profile like and how is your utilization on the accounts you have open now?

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Maybe, maybe not. AAoA and Credit Mix carry about the same weight in scoring according to the FICO gods. Should come close to balancing out. At any rate, any change would likely be pretty minor.