Why would buying a car

[Anonymous]

And getting a loan from a bank not a buy here pay here place.... Make your credit go down 65 points?!

[3guys4me]

Because it lowers your debt to income ratio. Your income stays the same. Your debt increases. Your credit score goes down.

[wooly]

You might have too much debt with the added car payment loan.

[Anonymous - Original Poster]

Okay but I traded it in. My debt barely changed

Quoting 3guys4me:

Because it lowers your debt to income ratio. Your income stays the same. Your debt increases. Your credit score goes down.

[Anonymous]

I think loans in general do that. You're more of a liability with open loans.

[christina0607]

Because now you owe money, lol. 

[Anonymous - Original Poster]

And I owed money before. How does credit build without revolving loans?

Quoting christina0607:

Because now you owe money, lol. 

[Anonymous - Original Poster]

But isn't open loans how you build credit anyway?

I'm so sick of trying to Tweek out my credit to make it perfect. It doesn't even make sense

Quoting Anonymous:

I think loans in general do that. You're more of a liability with open loans.

[Fields456]

It should go back up after a year.  If you have really good credit it doesn't affect your score as much if you have lower credit 

[spastic_poodle]

Did they run your credit several times to find a place that would lend to you? That's a common culprit. They ran my fiance's credit with EIGHT different banks. Assholes.

[Anonymous - Original Poster]

It was 712 before

Quoting Fields456:

It should go back up after a year.  If you have really good credit it doesn't affect your score as much if you have lower credit