Installment loans don't hurt your score as much in the utilization department. As soon as you have made a payment or two on the new loan you should get a boost as you are no longer at 100 percent on that loan. Since you already have installment loans you won't get a boost in your credit mix and the new account hurt your average age of accounts. That said, if it makes financial sense for you it is clearly a nice move. 2 of 6 accounts isn't bad (for revolvers) but it sounds like you also have 2 other loans, so that means 4 of 8 (still not bad). I recommend you pay down your other cards so that your total revolving util is 9 percent or lower. Still 25% is not too bad and your score should increase if that is better than before.