Raise Credit Score with Auto or CC?

[Anonymous]

Hello,

I hope all is well and the board is great bro for everyone! I have one payment plus 15.94 left until my last auto loan is paid off. I haven’t applied for new credit in over 3 years and I understand I need to get more credit or my scores will be lower after my loan is paid in full.

I have been rebuilding over the last year and am 699 on Experian for score 8. This is what my CU uses when it pulls a report. Should I get another auto loan as it is time to retire one of my vehicles or should I get a CC to help with my score? I am worried that it will lower my average age of account from 7 years, 6 months and lower score. Was thinking of applying for 15k. Auto loan would be 50k. Thoughts?

[FireMedic1]

Since you have CC's. And soon no installment loans. Thats the route you'll want to take for the Credit Mix. Even if you want to keep the car. Try  a CU for a SSL or personal loan. Or even the bank that financed you. Its cards and 1 loan that does the trick. Not another card. Good Luck!

[Girlzilla88]

I agree if it is in your budget/sights then I would opt for the Car as well but it will still affect your age as you will be adding a new account regardless but with it being in seperate sections having Cards and a Car/Personal loan will look better on your behalf.