This is for question is for the THREE WISE MEN aka: The Kudo Kings

[williamd1972]

I have to apply for my sons Student Loan, a morgage loan, and I have one payment left on my car loan. So please, in very specfic terms, can you tell me what kind of point drop I should expect when I pay off my car loan.

[Anonymous]

None.  Possibly a gain because you have less accounts with a balance.  A paid tradeline.  Less debt.

Don't be fooled into thinking you must have debt in order to have a great FICO.  The car loan paid off is a GOOD thing, so enjoy owning your vehicle, take care of it and put the payments into savings.

Good luck!

[williamd1972]

Thank you, oh- wise- one.