Valued Contributor
Posts: 1,228
Registered: ‎05-10-2012
Re: Paid off car & score went down - Need to buy new car

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.

  • Current: EQ FICO 706, TU FICO 701, EX FICO 706 | Starting Score: 525 (05/2012)
  • Starting total revolving credit: $1100 | Current total revolving credit: $36,700
  • Inquiries (12 Months): EQ 2 TU 1 EX 1 | Most Recent: 1/21/2014
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