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Seattle4u2always

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Loan to pay credit card debt
Will it impact my credit score? If so, how much?

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Top Contributor
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There are to many factors

That I am not privy to to tell you. 

With out knowing whats on your credit report there is no way to tell you how a new loan would impact your score, I can tell you that your score will drop initally,  Anytime you apply for new credit it drops.  After you have made a few on-time payments it will go back up. Sometimes after the first payment or two.

Good luck

Top Contributor
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353 People Helped

Well your score might go up if you pay off your credit cards because 30% of your score is utilization.  So if you were to pay off your cards and they are above 30% you will see your score move up.  Installment loans dont count against your utilization.

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