Re: Why does a small purchase send my score down 20+ points????
03-04-2013 06:44 PM
Okay, so here is another mystery to me. As I mentioned above, my car loan has been paid off for awhile. I am also the co-signor for my wife's car loan. It has 9 months left on it, and I am really trying to pump up my credit score for an upcoming construction-to-permanent loan that I am going to seek. So, I pay off my wife's car loan about a week or so ago, and I get a score alert that the account has been paid off in full. BUT, no uptick in my credit score? What gives with that? My thought process was that if I eliminated a debt altogether, then it should increase my score. What am I missing? Also, from my previous posts, I was given the advice that my score would go back up when the balance on this little credit card goes down. I have had it paid off for over 2 weeks now and it still stays put. Why? Any other tips for raising my score?