Just approved for 2 installments equalled to$20, 000 . Will my Credit scores drastically reduce? If so, how long before they will start going up?
It won't drastically reduce. Maybe you could see a loss of 20 pts or so, but that was assuming that you haven't opened any new credit accounts in the past year or so. And any damage is temporary and you'll rebound. Any loss is a YMMV-thing.
Thank You. I Havnt opened any new credit accounts. Only a the 2 two installs because I never had any so I was hoping , well I was told it would build my credit as lon as I kept my CC payed off, no new collection acounts, or late payments.