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But when I paid off my car, my credit score actually dropped. And while it wasn't a huge hit, it was noticeable enough. ... and the length of your credit history. My auto loan wasn't a ...
Having a diverse mix of credit accounts like a car loan and one or two credit cards that you use and pay off helps you score well in this credit score component. New credit (10 percent).
Settling your car loan debt can end high payments, but your credit score will drop.
But, for a short period of time, you may see a dip in your credit score right after you pay off a loan — particularly if it is an installment loan like a home mortgage or auto loan.
According to FICO data, your credit score can drop by anywhere from 17 to 37 points if you have a fair credit score and a 30-day missed payment is reported. The impact increases with a higher ...
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related to: car loan credit score dropping- 1795 Morse Road, Columbus, Ohio · Directions · +1 614-221-3233
helperwizard.com has been visited by 10K+ users in the past month