Frequent Contributor
jdirilo
Posts: 331
Registered: ‎08-27-2012
New accts added to CR, score not changing?

Ok so I am still fairly new at this rebuilding stuff. I just had a new auto loan hit my credit(was a refi, for $6700) and a new cc from NFCU added for $500, balance was $181 at time of reporting. My score on credit karma didnt move(which would explain why the credit simulator didnt work either). And I checked my transunion score from their website, and it has only gone up 6 points. Is that normal? Is it good? Should it have gone down considering it is new debt? 

Also, yesterday I closed my checking/savings with Wells Fargo, and I canceled my $500 secured card as well. I have only had it two months, but I realized it is not a card that I want to deal with. I am not sure if it was good or bad, but my husband was glad because he is upset that I am getting credit cards at all. He doesn't want any new debt, even if it is building my credit. Anyway, Wells said it would take 45-60 for my card to be completely canceled(even though it already doesn't work?) and they told me to continue to make my monthly payments until it is closed out, and they will send me any remaining funds. So do you think it is good that it will then report as paid/closed never late. Or will it look worse that I only had it for two months and canceled? Sorry for so many questions, just trying to get an idea of what to expect in the next month or two regarding my scores. Ultimate goal is to buy a house in 6 months! Thanks for all your input.