@Gunnar419 wrote:Not enough info to say. If you're talking about debt that's past due/charged off/with a collection agency, you may get no bump at all for the payoff unless you can also persuade the creditor to remove the record.
If you're talking about small, current, good-standing debt on multiple credit cards, then you can sometimes get amazingly large score jumps (10-20-30 points) by paying most of them off and having only one card reporting.
If you're talking about installment loans that are in good standing, you might get a small increase, but sometimes people report a drop.
What's your situation?
Agreed. More information is neccessay before anyone can give you an educated guess on your CS jump.
You actually may see no bump at all. This is not a revolving acct. so it would not factor into util%. But as with any debt, it would look much better paid under a manual review.
July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge
Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!
June 2017 update: All scores over 820, just pure gardening now.
Why would paying a new colletion result in a score bump?
Starting Score: EQ 583 TU04 619 EX 592 (lender pull) 2010