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Paying off auto loan if I have 2 open...

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Anonymous
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Paying off auto loan if I have 2 open...

I would like to know how my scores would change, if any, after i pay an auto loan off?

I have 5 open accounts.
Capital 1 CC- open 10/2015 NO lates
Usaa Amex CC - open 08/2016 No lates
NFCU cashrewards - open 09/2016 No lates
Wells Fargo Auto - open 03/2015 3 lates $30,492> $17,982
FirstBank Auto - open 01/2016 3 lates $15,425> $12,300 (Planning to pay off in 1 week)

Thank you for any advice, comments.

I know scores usually drop when you change your credit mix but if I have an installment loan still open I wasent too sure.
1 REPLY 1
Anonymous
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Re: Paying off auto loan if I have 2 open...

Your score changing depends on a variety of factors?  Do you have any other loan apart from the auto loans? This is how scores are calculated...

 

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The auto loans account for 10% [ types of credit used] in calculating your scores.  So it will be hard to predict how your scores will change should you pay an auto loan off.

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