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I paid off my car loan almost a month ago, is that going to make my credit score go up? If so, how long does it take to show?
@5thgoldengirl wrote:I paid off my car loan almost a month ago, is that going to make my credit score go up? If so, how long does it take to show?
probably will make your score go up a little. As with anything reporting, it should take 1-2 months to show.
welcome to the forums
Last one i had that i paid off about a year early actually cost me about 25 points. I recovered them all and more within about four months as i recall. Felt like i got penalized for doing to right financial thing.
@5thgoldengirl wrote:I paid off my car loan almost a month ago, is that going to make my credit score go up? If so, how long does it take to show?
Same just happened with the wife and I. Paid off our auto loan 2 months early and our scores dropped about 30 points. Figure that one out!
Also curious as why on our reports it now shows as CLOSED/ Crdit LIMIT -0- / Balance $533 ? Should the balance not show as -0- also ???