New Member
chadbnj
Posts: 3
Registered: ‎12-10-2012
Short term impact on credit score

Hello,

 

I currently have a FICO score of 690 (TU 765, EQ 690, EX 715). I'm in the process of buying a new home. However, due to a divorce a few years back I've been rebuilding my credit since and making significant progress as of late by disputing certain items and also paying off or settling past problems. I had closed all my credit cards and the mortgage was paid off during the settlement. I recently (3 months ago) got a new cap one credit card with a very low limit (my score was significantly lower 90 days ago). Therefore, I have only one revolving account with a low limit and no other credit currently. I also have ZERO debt. My question is if I were to get a small car loan for say 10K would it have a negative or positive impact on my score in the short term?  Any feedback would be greatly appreciated!

 

Thanks,

 

Chad