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Posts: 12,952
Registered: ‎04-15-2011
Re: How does a loan affect your credit score ?

You will take an initial hit due to AAoA and a HP.  However this will fade over a little time.  Installment accounts don't factor into you Util.  If you age it for a year and pay it off, it will stay as a positive TL for about 10 years so no problem there.


Starting Score: 504

July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+

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Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!