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Question By
enkidu00

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How does my credit score drop from excellent to fair in one month?
My credit score in June was 759. It dropped to 695 in July. All I can see as different is that I took out a car loan and reduced my credit card utilization. I pay all my bills on time. What is the deal?

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Is it the overall debt?

Helpful to 2 out of 5 people

I guess your overall debt profile is causing this. With a car loan, there will be a sudden increase in your debt by 10-20K (guessing). That could be the reason to push the score down.

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