How many points will my credit score go up once I pay my car off?


$weetne$$ asked:


I want to see where to invest the money I just got into which loan to have most impact on my credit score. I have a personal loan of 3,300 and my car loan is 7,000 which would show best paid off on my credit report and help me buy a house? How many point increase will be made?

Stacy
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  1. #1 by Common Sense on January 12, 2011 - 2:55 am

    Edwin

    No way to know. There are dozens fo factors that go into a credit score.

  2. #2 by Steve D on January 15, 2011 - 6:23 am

    Andre

    Unknown – each person’s score is unique and based upon hundreds of different factors and accounts. The amount that the score will change is based upon your unique/individual circumstances and what might be a ten point change for me could be 25 for you or vice versa.

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