@Anonymous wrote:Hi,
I have relatively small auto loan; which I took out in Oct 14 with 8% interest. My credit history is no longer than 10 months as thats how long I've been in the US.
Should I pay off the auto loan or shall I refinance at a lower rate and keep the auto loan going for say 48 months so atleast for the next 4 years, I can have a loan to show, on which I can show regular payments ? or shall I pay off auto loan so I don't have ANY loans (don't have a mortgage yet)
I've already got 10+ credit iInquiries in a short time.
What would be good to build FICO/credit score.
TJ
Hi there and welcome to the U.S. 
Personally, if the auto loan tradeline is only about 10 months old, I would keep it active and not pay it off just yet. If you can refinance it for a lower rate, that would be great too.
I am saying this because i just bought a new car and my finance rate was really high because I had *no* auto loan history to show how I would manage one. I have every intention of refinancing it as soon as I can, for a lower rate.
Thank you both for the reply,
I do have creidt card, so I think I will buy the credit reports, check the FICO score and refinance auto loan to keep it for longer time. Wish the FICO scores were cheaper than $59 
Check out the threads on DCU refinancing, they have some of the best rates. You can use the search function to find information.
I agree I would refinance the auto loan, and have at least a few years of a good regular payment on it. This will help your FICO score.
You can buy your scores for less than $59. Sign up for the 3-bureau monitoring service, $24.99. It is a monthly fee, but if you don't want to continue, you can cancel before the second month. So you only paid $24.99. This will give you all 3 credit scores and reports.
Let us know what your score is when you find out. Also you might qualify for some cards. So tell us what card you have and how old it is. Good luck, hope you're enjoying the States.
