https://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Paying-my-CO-s-off-and-score-is-going-up/m-p/1493878#M197389 <P>this was the only thing to have reported (so far) this month. it was a CO from a really old installment loan that was not part of my util and showed as a closed account on my CR. i honestly think it just went up for paying it.</P> Sun, 15 Jul 2012 20:46:40 GMT j_casteel 2012-07-15T20:46:40Z https://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Paying-my-CO-s-off-and-score-is-going-up/m-p/1493808#M197382 <P>I wasn't really expecting anything except moral satisfaction when paying my old CO's off. I have 3 from 2005-2007. I wanted to go ahead and started getting those cleaned up now and build time between them and for my next mortgage in appro. 2-2.5yrs. Well i decided to go pay one off in full for $401. It just reported today, and bumped my score up 8pts. I have another one that is also around $400, then a larger one around $6,800. I'm hoping by paying these off it will just continue to boost my score b/c i was under the impression that paying old CO's didn't do anything for my score.</P><P>&nbsp;</P><P>-John</P> Sun, 15 Jul 2012 19:23:02 GMT https://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Paying-my-CO-s-off-and-score-is-going-up/m-p/1493808#M197382 j_casteel 2012-07-15T19:23:02Z https://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Paying-my-CO-s-off-and-score-is-going-up/m-p/1493832#M197384 <P>did anything else happen? people on these forums swear up and down that paying off a CO doesn't do anything score-wise</P> Sun, 15 Jul 2012 19:47:49 GMT https://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Paying-my-CO-s-off-and-score-is-going-up/m-p/1493832#M197384 mschang 2012-07-15T19:47:49Z https://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Paying-my-CO-s-off-and-score-is-going-up/m-p/1493854#M197387 <P>What is referenced when people state that paying a CO does not, in and of itself help, is that the impact of the derog remains under your payment history scoring.</P><P>&nbsp;</P><P>If the acct balance was affecting your % util, paying it down would improve score in the separate util of credit category.</P> Sun, 15 Jul 2012 20:08:30 GMT https://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Paying-my-CO-s-off-and-score-is-going-up/m-p/1493854#M197387 RobertEG 2012-07-15T20:08:30Z https://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Paying-my-CO-s-off-and-score-is-going-up/m-p/1493878#M197389 <P>this was the only thing to have reported (so far) this month. it was a CO from a really old installment loan that was not part of my util and showed as a closed account on my CR. i honestly think it just went up for paying it.</P> Sun, 15 Jul 2012 20:46:40 GMT https://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Paying-my-CO-s-off-and-score-is-going-up/m-p/1493878#M197389 j_casteel 2012-07-15T20:46:40Z https://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Paying-my-CO-s-off-and-score-is-going-up/m-p/1493918#M197395 <P>Was there any change to the account status?&nbsp; (i.e. Did it change from CO to Pays as agrees?)&nbsp;</P><P>&nbsp;</P><P>Robert, would that impact scoring?</P> Sun, 15 Jul 2012 21:31:55 GMT https://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Paying-my-CO-s-off-and-score-is-going-up/m-p/1493918#M197395 Anonymous 2012-07-15T21:31:55Z