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Posts: 760
Registered: ‎02-11-2012
Re: Need help understanding a closed auto loan while opening a new auto loan.

Scores improve over time. Paying loans and cc's off on time will assist in keeping your score more stable and then a gradual ascent as the baddies, collections, and late payments begin to age and fall off. AS always ymmv dependant on your complete credit profile.

Starting scores 01/02/2012 EQ 707(Fico) TU 733(Fico) EXP 735 (FAKO)
Updated scores 06/01/2014 EQ 797(Fico) TU 768(Fico) EXP 769 (Fico), EQ 849 (Next Gen 5/27/14 Penfed)

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