Posts: 127
Registered: ‎05-29-2011
How Does This Effect My Credit Score?

Let's try this again... My question is... How does getting an auto loan effect your credit score?

In the beginning is it lowered (due to the inquiry) until it reports the payments? Do the payment help boost your score or does it not have any effect at all, unless of course you're late or missing payments... 

The only things I have right now on my credit report are credit cards and student loans, all in good standing. So I am wondering how my new auto loan will effect my credit score?

Starting Score:575 TU, 577 EQ, 610 EX
Current Score:740 TU, 739 EQ, 750 EX
Goal Score:700+

~Anything Worth While, Takes Time~
I'm done taking shortcuts. I choose the long route. I'll still get there~
Take the FICO Fitness Challenge