Will a Surgery Loan mess up my credit score?

[Anonymous]

I might need a $30k procedure that is not covered.  I can probably be approved for Cap1s extended or even no-interest (if paid back in x months) medical loans.

Will adding a $30k loan to my mix totally mess me up? It will be 'new credit' and affect total outstanding debt, on the other hand it will add to my mix of types of credit. Any thoughts?

[fused]

Well, a number of things can happen.

The good:

you have the surgery you need. you save a lot of money if you pay off w/o interest. adding an installment loan if you don't have an open one right now will help your credit mix - not a ton of points though. Make sure it's an installment loan and not a LOC which might report as a revolving account and damage your scores because of high util.

The bad:

new inq(s)

reaging your credit report

more debt owed (TU hates this)

another account reporting a balance

My guess is your scores will go down.