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Will paying down installment loans raise my credit score?

Member
212.118.140.23

Re: Will paying down installment loans raise my credit score?

Shogan, care to venture a guess on how much it will raise my score? Currently my revolving credit is "over drafted" by 1,980.00 dollars.

Message 11 of 13
Moderator Emeritus
212.118.140.23

Re: Will paying down installment loans raise my credit score?

I'm guessing 30 points or more at least.

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

June 2017 update: All scores over 820, just pure gardening now.
Message 12 of 13
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Member
212.118.140.23

Re: Will paying down installment loans raise my credit score?

THAT IS WHAT I WANT TO HEAR! I think by getting myself added to some high limit low balance credit cards I can easily get myself to the 620 to qualify for a home loan I need in 30-60days!

Message 13 of 13