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"Amount of New Credit" Hurting my Score

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Sourhead
New Visitor
New Visitor
‎08-31-2010 04:06 PM
‎08-31-2010 04:06 PM

"Amount of New Credit" Hurting my Score

I have a TU score of 741, with good marks for payment history, amount of debt and length of credit history, however the amount of new credit is listed as low. I have replaced two cars this year with two used cars and taken out loans on them. I haven't applied for any other credit in the form of credit cards or a mortgage for years. Is this negative mark saying I haven't applied for enough credit? Or does it mean the two times I did this year are too many?

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AndySoCal
Senior Contributor
‎08-31-2010 07:49 PM
‎08-31-2010 07:49 PM

Re: "Amount of New Credit" Hurting my Score

I would say it is referrring to the new auto loans on your credit report.

FIC Scores XPN v8 808 V2 831 (SDFCU) TUC V 8 803 07/25 EFX Bankcard v8 822 EFX FIC0 v8 800 Vantage score 4.0 817 via JC Penney
JC Penney 10/2008 4,700 US Bank Cash 08/2010 12,000 Citibank Custom Cash 5/2015 11,100 State Dept. FCU 06/2023 25,000 02/2024 Redstone FCU Signature VISA 10,000 08/23/2024 Commonwealth Credit Union 15000 07/25
Banking: Lafayette FCU Fortera FCU State Department FCU Redstone FCU Hughes FCU Commonwealth FCU
My personal blacklist Axos Bank, Bank of America, Synchrony Bank Capital One TD Bank Comerica Bank BMO US Bank Wells Fargo
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