Am I too late?

[Anonymous]

I recently took out a loan from wells Fargo for $7000
And I have a credit card with them that has $1000 on it. have had a bank of America credit card since June of 2014 and I just started usingit in September.my credit score is 721 recently went up 8 points.we have a student loan debt and I don't want my credit score to go down to money. Is there a way where I can keep it at steady good rate. I'm not looking for any quick fixes I just want to keep my credit score good and hopefully build it up. I have not touched any of the money and I was from the loan nor have I activated the Wells Fargo credit card.will this impact me in any way?

[TimeToRecover]

To Late for what?

[coldnmn]

It doesn't matter if you have touched your loan as the inquiries and new TL will report. The loan will help your score eventually as it diversifies your credit file. The same goes for the card the new credit card it will report if you activate it or not. Just make sure you pay your bills on time and you will be fine in my opinion. Credit is a journey and will have its ups and downs in the process as far as score goes.

[Anonymous]

A loan and your 2 credit cards are a great mix of credit. You also said you have student debt, which i assume is another loan. 

Your new loan could have been the reason for your 8 point increase despite the fact that it hard pulled your file. 

From a a really good thread I read here(I'll provide if you need it) some people are taken by surprise at the no point increase, or even loss of points after a loan is paid off and taken off of their report.  As far as being too late - not sure what you were referring to, but it's never really too late. 

[takeshi74]

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@Anonymous wrote:
we have a student loan debt and I don't want my credit score to go down to money.

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Can you clarify what you mean by this?

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@Anonymous wrote:
I have not touched any of the money and I was from the loan nor have I activated the Wells Fargo credit card.will this impact me in any way?

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As stated above, they're going to report (if they have not already). Whether you activate the credit or touch the funds from the loan really doesn't matter.

At this stage your concern over scoring is mostly a matter of building positive payment history with these accounts and keeping your revolving utilization in check.