Valued Contributor
Posts: 3,406
Registered: ‎12-19-2012
Re: Paid off car & score went down - Need to buy new car
I just bought a new car and traded in my old vehicle, which the dealer paid off my loan. The only thing that changed on my credit report was the auto loan was paid off and closed. No change in Utl, and Acura Financial added no inquiries when they pulled my score from TU (weird). My score dropped 5 pts just because the account was closed...guess it affected my AAOA. The new loan hasn't reported yet but I made my first payment on the 15th.
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! Smiley Happy Last App: 4/5/13 Gardening until July 2014