Pay Off Car Loans

Discussion in 'Credit Talk' started by tmdlkwd, Sep 30, 2003.

  1. tmdlkwd

    tmdlkwd Member

    I will be paying off 2 used car loans within the next
    From other members experiences, how did this effect your FICO score? What type of point increase did you have or decrease ? All my scores are in the low 700's. I have a 8-10 credit history. From doing some research, I understand FICO likes to see secured loans, therefore, I was wondering how this would effect my scores. I have never been late on any of my credit cards, and I rarely carry any type of balance...

    Loan 1...3 years old. never late
    Loan 2...2 years old. Never late.

    I am sure there may be other factors involved, but I was hoping to get some idea.


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