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Posted on 7/18/14 at 10:46 am to Double Oh
quote:
paying off a car early and your credit dropping is freakin stupid. This world i wonder about sometimes.
It only really happens if it drops the average age of your open accounts.
It can boost your credit worthiness as it reduces your LTI ratio - however, the net effect of it dropping a credit score - objectively, is silly to me for a lot of reasons.
Posted on 7/18/14 at 10:50 am to Double Oh
I don't get this. I paid off my truck note last August(32 months into a 60 month note) and my credit score went up 30 points. Why in the hell would it go down?
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