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Established Contributor
Posts: 516
Registered: ‎09-25-2009
0

Question

Would paying off a auto loan boost my credit or keep it stable?  the reason why is I have $1250.00 left to pay on it.  I read it doesn't do nothing.


Starting Score: 565
Current Experian Score: 634 (Lender pull)
Current Equifax Score: previous 668, 680 as of 11/12/13 lender pull
Current Transunion Score: previous 675,677 as of 09/23/13
Goal Score: 750

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Epic Contributor
Posts: 22,406
Registered: ‎01-17-2008
0

Re: Question

You probably wouldn't see much from paying it off.  There is a separate utilization for installment TLs but they factor very little into your score.

Established Contributor
Posts: 516
Registered: ‎09-25-2009
0

Re: Question

damn


Starting Score: 565
Current Experian Score: 634 (Lender pull)
Current Equifax Score: previous 668, 680 as of 11/12/13 lender pull
Current Transunion Score: previous 675,677 as of 09/23/13
Goal Score: 750

Take the FICO Fitness Challenge



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