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LaHamaca

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new loan, dropped score 50 points!
i recently got a loan for the first time of 5600, my score dropped 50 points and i am going into a panic. what can i do to help this? i also have $1000 in credit cards that are in good standing. i have had no late payments on anything. i went from 647 to 583 a little over 1.5 months!

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That is normal, it will be OK. Once you start making your ontime payments, you score will increase and eventually (all things remaining the same credit-wise) your score will go beyond 647.  Just give it a few months.

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