How do car loans affect credit scores? Combined with credit cards and mortgages, car loans help show a diverse credit mix. When you shop for the best rates, some lenders perform hard pulls. These typically drop your credit score by a few points. Often, though, several hard pulls over a short time roll into a single ding, which limits their impact. Once you get a car loan, your debt load will increase, but consistent on-time payments both establish history and lower credit utilization. Learn more at Capital One's Auto Learning Center.
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How Do Car Loans Affect My Credit Score? | Capital One