- How It Works|
- FAQs|
- Help
- Log In to your account |
- Sign up now for free!
Credit Advice
Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!
Question
The last month my credit score has gone from 606 to 621. I paid my car off and now its 606. Why?
Asked by
cbunting
1 year ago
Flag this Question
4 responses
- Prev
- 1
Reply To This Question
The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.
Let the community lend a hand!
3 Most Recent Questions in Auto Loans
How can I get the credit union to knowlege that a loan balance belongs to my ex wife
0 Responses
Asked by chico59
under Auto Loans
if i have a car loan right now can i get another if i refinance the first one
0 Responses
Asked by babiblu7
under Auto Loans
Credit Card Offers Just For You
These are the most popular credit card offers from Credit Karma members with credit similar to yours.
Credit One Bank® Visa Platinum Card
- Pre-Qualify for a Visa credit card without affecting your credit score
- Get a starting credit line up to $1,500
- No enrollment fee
Capital One® Secured Mastercard®
- Get the credit you need with no processing fees or application fees
- Automatic reporting to the 3 major credit bureaus
- Track credit with access to your credit score and other tools
Copyright© 2007-2012 Credit Karma™, Inc. Credit Karma is a registered trademark of Credit Karma, Inc. All Rights Reserved. Product name, logo, brands, and other trademarks featured or referred to within Credit Karma are the property of their respective trademark holders. This site may be compensated through third party advertisers.
I've heard that closing a credit account that you were actively paying will lower your fico score.
avamiranda 1 year ago
I asked the same question and haven't received a response, yet. I paid off my car loan and my credit score went down about 5 points, while I was expecting it to go up.
smp197 1 year ago
a car loan is and installment contract. really does not do much to improve your score. actually hurts more then helps. However they like to see a balance of different kind of credits so its good in that sense. I am guessing though that maybe it had more to do with a slight change to a credit card balance or an inquiry maybe.
toledobill 1 year ago
yeah i heard that to, but it should have went up because ur debt to income ratio was reduced also
scotbet 1 year ago