*Loan,banking and credit>>>auto loan

If I pay off an auto loan before its maturity date, will this raise my credit score?

It depends whether or not you have a long established credit history. If this is one of few loans or credit lines you have ever had then it may not help you. If you have a longer history, then your score should go up. If it where me, save yourself the interest and pay it off early. A bank account that you continually contribute money to is just a good as a car loan. Both are on your report. Source(s): 26 years old, really high credit score, thats how I got a bank to loan me 200,000 to start a new business...........ps I usually pay stuff off early

Your credit improves after you maintain a debt consistently. If you have had the debt for over 2 years and then pay it off, your credit improves. If you take out a loan and pay it off in 2 months, this will not improve your credit.

Credit is not just about showing you can pay the money back, it also measures how good of a client you will be to the banks. Someone that borrows money longer is a better client.
Yes it should.
Actually this can go on your credit report as a negative.....It happened to me when I payed off my car loan earlier because you sign a loan agreement and they want that interest....so if you get out of it early they look at that as a negative thing. It should not hurt your score.....I got a copy of my credit report for free online and disputed the negative rating they gave me for paying off my loan early and it was removed.....it hadn't actually lowered my score, just showed up as a negative mark.
you really need to have a consistent payment history for about 2 years before it affects your credit history.. getting a loan and paying it off in a couple of months isn't going to do you any good, except to get rid of a monthly payment..... sorry
a credit score of 800 and 30 years of experience