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| *Loan,banking and credit>>>credit score |
I will be done paying my car off in a few months. How will this effect my credit score? |
I will be done paying my car off in a few months. How will this effect my credit score? It dosent really matter that you have finished paying it off. What they look at is the history of the payments and whether or not you have been making them on time, or being tardy with the payments. If you have, then it will definetly work to your advantage. It will be one less thing to worry about. Just try and stay away from credit cards, they are dangerous. Angels will appear to sprinkle "fairy dust" on your report at TRW !!! You will have a "paid in full" report on a sizable debt -- this is a very good thing indeed !!! i am not sure i know if u paid on time the whole time it will be good, but from what i was told that what credit ppl look for is a religous payment kinda thing so once that paid off and u have nothing else your paying on they have nothing to base the credit on so .. cause i asked about what i could do to get credit ...cause i thought that if i took out a loan for a car and paid it off ASAP would that be good and it was not good but not bad they want someone who makes payments on time all the time so more or less you will have good credit but eventually you will let just say go into idle if that makes any sense( i could be wrong..just thats how it was broken down to me ) Lower it. Anything you pay off is always a good thing for your credit rating like I have paid off Loans and Student loans and my credit was good...I too have a car I am paying off it will be a good thing for your credit rating it can't hurt it............ |
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