i have a couple credit cards, and i’ve just t...
i have a couple credit cards, and i’ve just taken out my first loan. will this likely make my credit scores go up, go down, or stay the same?
Answer
# Brief Explanations:
Opening new credit accounts like credit - cards and loans can initially cause a slight drop in credit scores. This is because a hard inquiry is made when taking out a loan, and new credit accounts can lower the average age of credit history. Also, there's a perception of increased credit risk in the short - term.
# Answer:
Go down