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Question By
nmastro

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recommended I take a personal loan,Prosper for which I was approved, my rating drops 40 points??
why would my rating drop? You are the one that recommended a personal loan to IMPROVE my rating,

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You've been a member of this site since 2010, and have obviously not taken any time to read the informative articles to educate yourself.  This site makes money through advertising. A loan is not necessarily in your best interest, as you're now paying wasted money on interest. The lower your credit score; the higher your interest rate. 

If you took time to read the articles, questions and answers on this community forum - you would have learned it wouldbe better to obtain a credit card using no more than 10%, and pay it in full every month. 

Caveat Emptor.

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Any new line of credit or loan will drop your score......hard inquiries, average age of credit, and a line of credit that 100% utilized will all drop your score.

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Reply by
Nomadre

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Also remember that no one that works for CK is on these boards. We are just a community of people who use CK to get a general idea of our credit ratings and to watch our reports.

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