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May 21, 2020
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Will paying off my car improve my credit score?

  • May 21, 2020
  • 1 reply
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I’ve had the car for 5 years.  Refinanced once and no late payments.  I’ve got the money to cover the payoff amount but wondering will it improve my score or hurt it? 

    Best answer by Anonymous_

    It can possible hurt your score depending upon your credit mix.

     

    See https://www.experian.com/blogs/ask-experian/does-paying-off-a-car-loan-early-hurt-your-credit/

     

    See also https://www.bankrate.com/finance/debt/pay-off-truck-or-credit-card-debt.aspx

     

     

    1 reply

    Employee
    May 21, 2020