Help... Trying to increase my score in few months!!
Hi,
I want to know if paying off my car loan, and about two of my credits cards each with limits of about $2500, will help increase my score in few months.
BTW, my car loan is about $18,000 and i have had this on my credit for only two months now.
Re: Help... Trying to increase my score in few months!!
You'll likely see a better score gain by paying off the credit cards than the auto loan. I've actually seen people say that their score has gone down a few points after paying off an auto loan.
I'd pay off the CCs and see what happens. Keep in mind that you need to give it about a month or two before the balance will be reflected on your CR.
