Question : Can a Cash loan cause your credit to go down?
I was thinking about getting a cash loan. Would it case my credit score to go down? When you go to get it do you have to tell them what you are going to be using it for you?
- asked by WarZoneParis
All Answers:
Answer #1
a cash loan wouldn't be different from any otherkind of loan. In the long term, loans canactually improve your credit score if you pay themoff as you're supposed to. In the short term,having one loan might not make much difference,but owing on several loans and/or credit cardswould make your rating go down.
- answered by lee m
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