 Is it worth signing up for an Amazon rewards Visa card? |
| I'm planning to buy a Zune, and it says I can save $30 off the purchase? There is also other benefits as well.. But, overall is the rewards card worth it, dooes anyone have it by any chance? W... |
|
 I am having 2 credit cards with outstanding of 50000/- please suggest me to overcome from this debt.? |
| I am having 2 credit cards SBI & City Bank with outstanding of 30000/- & 20000/-. Every month I m paying heavy minimum amount from last one year. Now i want to settle the outstanding. I can ... |
|
 I want to clean up my credit report..Any suggestions??? |
| Someone told me that you can go online and dispute everything on it to clean it up..Does anyone know how to do it...Or a link on how to do it would be helpful..Thank you.... |
|
 Can I negotiate with my credit card company? |
| I have a credit card with around a $50 annual fee and a $6 monthly servicing fee due to bad credit history. I obtained the card about 2 years ago. I've made all payments on time and always ... |
|
 First time home buyer, credit score average is 500 who will help?? |
| I have a credit score of average 500. I have a lot of debt. I'm trying to clear them now. I want to purchase a home as soon as possible but can't figure any way to do it with out being ... |
|
 Ever been let down and left in debt by 1 of your own family.? |
| I signed a contract about 5 years ago for someone and they didn't pay what I thought was 1 bill so I gave my daughter the money and she paid it on her card. I only found out last week there is ... |
|
 Will transfering credit card balances to a new CC with a lower APR be bad for my FICO score? |
Is this practice equivalent to "debt consolidation" when it comes to credit reports?
Thanks in advance.... |
|
 How long does it take to get a credit card and pin after the application is approved.? |
| i applied for a card and the pin has been sent,i am going on holiday in some days time,just wondering if i will get it before i travel.... |
|
 So I had an............? |
| overdraft with my bank and I never paid it and its been almost a year later and they sent me letters earlier in the year telling me it was going to collections and I cant find the letters now so how ... |
|
 I have a credit card debt collection agency trying to take my 1993 Toyota to cover a small debt of $1,500? |
| I have no job and my only source of income is Social Security disability. I have 4 kids, too. Because of a credit card debt of about $1,500, a collection agency here in NJ is threatening to take my ... |
|
 I been trying to get a car loan and they ran my credit too much? |
| i have about 50 inquires onmmy credit report and i heard u can get them removed,, how would i go about that, i also would like to raise my credit score i have about 4 cards how long would that take???... |
|
|  |
Jen_n_TX | Does this make you credit score drop? |
I got an auto loan. My score dropped by 12 points. I am current on all of my payments and carry a low balance on my credit card. Did my score drop because of the loan? |
 |
 
kimberly_carte
 |
The auto loan is likely the reason why your credit score dropped, and that makes sense if you consider what a credit score is used for. Credit scores attach a number to your name that give potential creditors a quick way to determine whether or not it is safe for them to issue you a line of credit; since you took on more debt liability in the form of an auto loan, your credit score drops because you will logically have to make payments on that loan, thus making you a slightly higher credit risk to a new creditor if you were to apply for more credit in the near future. A slightly lower credit score is a normal part of the borrowing process and probably isn’t something you should be concerned about.
If you’d like to inflate your credit score a little while still maintaining your auto loan, I would recommend asking for credit increases from your current credit card issuers or picking up another credit card after you’ve had the auto loan for more than six months (to make sure you qualify for a decent APR.) Part of your credit score is determined by how much of your available credit limits are NOT being used, so increasing your limit while you keep your balances low is a handy way to buy back a few of those credit points at no additional cost – just make sure you don’t start spending more as a result!
I’m sure it goes without saying that you need to keep up on all your payments, but I figured I would throw this in here just in case. 35% of your credit score is determined by your payment history, so this is by far the biggest chunk of keeping your credit score on the up and up! |
|
Mike
|
Having "diversified" debt is a good thing (as long as you don't fall behind) This loan should actually improve your score. I use a credit monitoring service through my bank and sometimes my scores change by 3 or 4 points in a month even when I do nothing at all. These things get tabulated very often so small changes are the norm. It's worth looking into though - better safe than sorry :) |
|
azjohn2001
|
Your credit score was lowered for two reasons:
1. Any time you apply for credit, an "inquiry" goes into your credit report. This alone will lower your score by about 5 points or so.
2. Getting a new line of credit lowers the average time that all of your accounts have been open. The longer your accounts have been open, the better it is for your credit score.
Unless you plan on financing a big ticket item like a mortgage in the next year, I wouldn't worry about it. Even if you do plan on buying a house, 12 points is not that much. As long as you continue to make timely payments on everything, you'll likely get those points back in a matter of months. |
|
steph
|
nope if all bills are paid on time it would not make your score drop. get a credit report from all three agencies, someone might have used your info. |
|
megan
|
your score could have dropped when they ran your credit to see if you qualified |
|
Whatcha Doin???
|
MOST LIKELY IT DID, THEY INQUIRE YOUR CREDIT AND THAT CAUSES FOR YOUR SCORE TO GO DOWN, NOW HOW MUCH IS SOMETHING ELSE, I THINK 12 POINTS IS ALOT FOR CREDIT CHECK ON A AUTO LOAN! YOU SHOULD LOOK INTO IT!!! |
|
dude
|
nope! |
|
k_reile
|
yes because you took on more debt...pay regular payments on time and your score should go up. |
|
hrland
|
Yes, it certainly did. You now have debt, or more debt, that you have to repay, that makes your score drop. Your debt versus your income level has gone up as well. |
|
Wizzerd
 |
Yes, any time you do an inquiry for credit, approved or denied, your score will drop. After a period of time it will go back up. |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
10 | 30 minutes(s) ago
| | | |
10 | 35 minutes(s) ago
| | | |
10 | 1 hour(s) ago
| | | |
10 | 6 hour(s) ago
| | | |
10 | 11 hour(s) ago
| | | |
10 | 1 day(s) ago
| | | |
6 | 5 day(s) ago
| | | |
10 | 6 day(s) ago
| | | |
10 | 1 week(s) ago
| | | |
9 | 2 week(s) ago
| |
|
Homepage 
Financial
Forum 
Credit 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
