Re: Paid off car & score went down - Need to buy new car
12-19-2012 08:24 AM
There could have been multiple factors, but my guess is credit mix. A mortgage falls into the installment type of account, but I believe it sits alone in its own category. I don't see any reason you'd be denied outright for an autoloan, but I'd get your UTIL down ASAP. Your scores will pop up, and you'll look more attractive to lenders.
Financed car @ 5.49% w/ DCU, Added DCU VIsa, Chase Freedom,
AMEX Gold and BCE, Lowe's