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Score increase or not

Established Member

Score increase or not

My wife and I purchased a new truck last June 2012 $35000 we paid it off this month should we see a score increase on are credit reports or not we also have another auto loan and she has several student loans. So one less installment loan
Message 1 of 4
3 REPLIES
Senior Contributor

Re: Score increase or not

Auto/Installment loans have very little affect on Fico scoring. 

Message 2 of 4
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Established Member

Re: Score increase or not

Thanks for the fast reply that was a $777 payment feels good to not have to pay it anymore and hopefully it will help with dti when we apply for home loan
Message 3 of 4
Senior Contributor

Re: Score increase or not

WOW!!! almost like having a mortgage payment lol. It will definately help with your DTI. 

Message 4 of 4