Established Contributor
bettercreditguy1
Posts: 653
Registered: ‎02-11-2012
Re: Question about paying off/closing installment loan

If you have the ability, pay it off early. On top of saving interest, it will look very good on your credit report being paid off several months in advance. It may not increase your score tht much, ymmv. Congrats, quite a milestone!

Starting scores 01/ 02/2012 EQ 707 TU 733 EXP 735 (FAKO)
Updated scores 05/01/2013 EQ 761 TU 780 EXP 788 (Exp. equivalency)


Remember the Three P's: Pay early in Full, Pay on Time, Patience