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Paid off Auto Loan - minor score change

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Creditchaser
Established Member

Paid off Auto Loan - minor score change

I paid off my auto loan last week. After it reported as closed to the 3 credit bureaus I only experienced a minor point loss on both Equifax  (-3) & Experian (-1).  No change to Transunion.

I have no other installment loans open.  They have all been paid in full and reporting closed but I do have a mortgage and minimal credit card usage reporting. All scores are over 800. 

 

So glad to not have to make monthly car loan payments Smiley Happy

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2 REPLIES 2
Creditwiser
Valued Contributor

Re: Paid off Auto Loan - minor score change

Great feeling to have a good car that you really like and PIF !  Congrats on getting the monkey off your back Smiley Wink

NFCU Visa 30k | NFCU Platinum 30k | Cap1 QS 12K | Cap1 QS 11.5K | Barclay MC 9k | Delta Gold Amex 30K | Discover IT 14K | CFNA FS 3200 | CareCredit 20k| Paypal Credit 5k | 1 months until BK7 disappears |
( EE from TU & EX )
Message 2 of 3
FireMedic1
Community Leader
Mega Contributor

Re: Paid off Auto Loan - minor score change

Congrats! Now your mortgage is the only installment loan reporting. So you didnt get whacked with no loans reporting for your credit mix. Good job!


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