Reply
Established Contributor
jadeite788
Posts: 510
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

Take the FICO Fitness Challenge



Moderator
guiness56
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
jadeite788
Posts: 510
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




myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+
}