@ccpat wrote:With everything else staying the same, which weighs higher on your credit score......Paying off a credit card balance or a personal loan balance?
One would need to know more to answer the question.
Sometimes paying off a loan leads to a score drop, sometimes to an increase.
Sometimes paying off a credit card leads to a score drop, sometimes to an increase.
We would need to know:
-how many credit cards, what the limits are, what the balances are
-how many open loans, what the original amounts of the loans are, what the balances are
-which card or loan you're thinking of paying off
Then we can answer your question in terms of the effect on FICO 8.
Our answers about other scoring models would be less certain.
