https://ficoforums.myfico.com/t5/General-Credit-Topics/new-account/m-p/419024#M122600 actually, after the first ding for inquiry you will probably see an increase. Sun, 18 Jan 2009 23:16:37 GMT Anonymous 2009-01-18T23:16:37Z https://ficoforums.myfico.com/t5/General-Credit-Topics/new-account/m-p/418982#M122593 <P>Hello,</P><P>&nbsp;</P><P>I just opened a new loan account @ 7k for 48 months.&nbsp; My scores are around 732.&nbsp; How much will this new account drop my scores if anyone has a thought?&nbsp; My last account opened was Aug 2007.&nbsp; I do not plan to keep this account opend for 48 months but pay it out right over a year or should I pay it down as close to zero as possible and keep it open for 1-2 years before paying it out?&nbsp;&nbsp; Any thoughts or suggestions would be appreciated.</P> Sun, 18 Jan 2009 22:01:53 GMT https://ficoforums.myfico.com/t5/General-Credit-Topics/new-account/m-p/418982#M122593 babbles 2009-01-18T22:01:53Z https://ficoforums.myfico.com/t5/General-Credit-Topics/new-account/m-p/419006#M122596 <P>If you have any other open installment loans (loans like the one you have, car, etc.), then I'd expect a drop, under 20 pts, and would last for a short period of time (few months). </P><P>&nbsp;</P><P>Paying this loan off sooner rather than later won't help your score much at all. However you'd save $$$ in interest.</P> Sun, 18 Jan 2009 22:53:58 GMT https://ficoforums.myfico.com/t5/General-Credit-Topics/new-account/m-p/419006#M122596 llecs 2009-01-18T22:53:58Z https://ficoforums.myfico.com/t5/General-Credit-Topics/new-account/m-p/419024#M122600 actually, after the first ding for inquiry you will probably see an increase. Sun, 18 Jan 2009 23:16:37 GMT https://ficoforums.myfico.com/t5/General-Credit-Topics/new-account/m-p/419024#M122600 Anonymous 2009-01-18T23:16:37Z