cancel
Showing results for 
Search instead for 
Did you mean: 

Car paid off

Contributor

Car paid off

I recently just paid off two cars. When I purchased the 2nd , my score dropped like 30 points. I recently paid off both but only one car has reported. The balance is at 0 and I was alerted about the change in my credit report but it didnt change my score at all. Is there a delay with this sort of thing or may there not be a score improvement?
3 REPLIES
Frequent Contributor

Re: Car paid off

There is a constant delay on scorewatch, the majority of time, it doesn't send alerts for anything. Its almost a worthless service. Buy your report again and chances are the score has changed.
Sept 07 EQ 419

April 2012 EQ- 669 EXP- 680 TU-700= Proud New Homeowner!
Super Contributor

Re: Car paid off

Scorewatch is a little slow, but I averaged two alerts a month over a couple of years.  I am in the "slow but steady - getting older and better" phase of my credit improvement, so this suits me just fine.  I have had all the really dramatic improvements I am going to get (using the advice so freely available here  Smiley Happy)
The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid
Contributor

Re: Car paid off

I purchased the report today and the score is still the same. I sure hope that there is some sort of delay. It showed up on the alert on July 26th, which was Friday. I would have to think that paying off the car would bump my score a little because it was hammered when I added the 2nd car and there have been no late payments.