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OK...Paid off my auto loan last month (August). Still showing balance and waiting for it to report $0.00. My question is this, how many points may i receive from this? I was thinking maybe between 5-10 points. Or am I way off base and maybe 0-3 points.
Has anyone seen any success (point increase).
Thanks...
If pulling and comparing the before and after from myFICO, and if you have no other open installment TLs reporting, then I'd guess a loss or gain of less than 10 points. If you have other open installments, then I'd guess none. Keep us posted.
Congratulations on the loan pay off. No matter how it affects your score just be happy you now have one less debt to worry about.
From a BK years ago to:
EX - 9/09 pulled by lender 802
EQ - 7/06-663, 3/10-800
TU - 8/10-772
You can do the same thing with hard work