Credit Score after paying off car loan

[Anonymous]

I have two car loans. One of them is at $12,000.00  and the other has a balance of $140.00 which is due to pay off on the 30th.

My understanding is if you have just 1 car loan and pay it off, your score may drop because of your credit mix.

I'm going to apply for a loan in the next couple of weeks and of course, want a good credit score. Should I wait to pay off the one car loan, or since I have 2 car loans, would paying the one off help raise my score since I still have a good mix?

[Anonymous]

You only need one loan with your cards to have the credit mix, so paying off your small one will close it, show a successful managing of a loan, and still let you keep your mix points. Pay it off and go ahead with your next one.