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3

Can paying a loan in full or closing an account hurt your credit score just due to the fact that you are making less ongoing payments, even though that is only because you don't owe anyone anything? For you, the answer is "it doesn't matter", more on this later. In my case no, after paying off all my debt I know have a far higher score now then I ...


5

Paying off the car loan could have a small impact. 10% of your score is based on credit mix and if you only have a credit card, that could lower your score. The auto loan would be considered an installment loan and was adding some diversity to your credit portfolio, but your student loan(s) should fit into that category as well. If you are still paying on ...


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