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Will my score raise or lower?
Hey everyone. Quick Question. I have 2 credit cards and 2 dept store cards. I have been paying them all on time. I also have a student loan and just got approved for a auto loan. My current cs is at a 693 according to ck and wanted to know if the new auto loan will hurt my credit in the beginning and as on time payments are made, raise back up or will it help my credit due to the combination of credit accounts open? I read an article that a healthy cs includes such accounts such as credit cards, dept store cards, loans. I guess a mixture of the sort. Let me know. Thanks!!
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refreshed
1 year ago
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You are right...a mix is the best and that is what makes your score. Yes a car loan should make your score go up PROVIDED that your debt to income ratio is still good.
tommy32 1 year ago
Thanks tommy32
refreshed 1 year ago