topic Re: My score fell 17 points!!! in Auto Loans

My score fell 17 points!!!

Niki9 — Sun, 04 May 2008 16:47:37 GMT

According to True credit

My TU score went from 681 to 664 when my car loan showed that it was paid off.

Re: My score fell 17 points!!!

Anonymous — Sun, 04 May 2008 16:53:08 GMT

I'm pretty sure FICO is the only place to get your "True Credit" Check you FICO scores before getting to worried. Did the loan report "Paid as Agreed"?

Re: My score fell 17 points!!!

Anonymous — Sun, 04 May 2008 20:21:34 GMT

TC is FAKO so don't go by that. I lost under 10 points when my auto loan reported paid/closed....I got the points back when the refi started reporting.

Re: My score fell 17 points!!!

Niki9 — Mon, 05 May 2008 04:53:15 GMT

youngmoney wrote:
I'm pretty sure FICO is the only place to get your "True Credit" Check you FICO scores before getting to worried. Did the loan report "Paid as Agreed"?

yes

Re: My score fell 17 points!!!

Anonymous — Mon, 15 Sep 2008 15:42:47 GMT

I am not sure this is where I can ask this question but have not seen another site that seemed correct to me. I am thinking about paying off two car loans in the next 6 months. I have had the one car loan for 15 months and the other one for 3 years. My question is will this hurt my credit score as I am not keeping the loans for the entire 4-5 years. I have read where people have paid off there loans and it did not give them any boost from doing this. My reasoning for wanting to do this is to save on the interest that I am paying. I could just refinance them as soon as my scores are good enough. Not quite sure what to do but looking to find out some answers from someone who knows how it will affect you. Thanks a lot.