Hubby and I just purchased a new car. We were originally denied, but dealer called in some favors to get us approved. Even got two points knocked off the interest!! Will having this loan improve my score at all? Re-starting the credit repair adventure after the new year...wish me luck!
Yes of course, just as long as you keep it a positive tradeline, which, since you're beginning the great adventure known as credit repair, I'm sure you will. Good luck!
The car loan is installment credit. Combined with revolving credit it is a good mix to raise your scores. The best way towards higher scores is to pay on time every month without fail. In about a year you will have good scores
