FICO down!?!?

[Anonymous]

I've been watching my score for a few months now planning on buying a much needed new car. I have a 10 year history but fell behind a couple years ago due to spouse health issues and death. I have only one cc left with a balance I've been paying off and only owe $400 so I was hoping my score would go up a few points but I checked and its down 10points! No other changes I have a $2800 before tax monthly income and own my home. I plan to put down $7500 cash down payment what type of interest can I expect or would I even get approved with a score of 655. And any idea why my score went down? I appreciate all your help.

[pizzadude]

What previous auto loans are showing on your credit reports, and are there any late payments ?

[UKTone]

You cancelled your credit cards? That isn't good to do. I suggest trying to see if you can get the ones you cancelled back.

Also bring your credit utilization to 0.5%-1%. That will put your credit score to it's max. Then apply.

[Anonymous]

I didn't cancel my cards, they were cancelled (except for the one) by the company and I settled with each of them. All 2-4 years ago.

 I do have a 2008 car loan that was paid totally on time and paid off 2010.  

Had one 30 day late almost one full year ago and all on time since.  

[chubbs3]

You have a 655 credit score and a large down payment, you can certainly get a car loan.

I would app for the Capital One blank check to see what rate you are eligible for, then take it to the dealer to see if they can beat it. 

[Anonymous]

Thanks everyone!  This has been very educational.  I really appreciate all your help.

Just a little scared about it.  Hoping I can get a decent interest rate.