New Member
Posts: 3
Registered: ‎05-18-2011
Re: Why does a small purchase send my score down 20+ points????

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?