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Posted in Auto Loans
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MULLET11

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IF MY NAME AND MY HUSBANDS NAME ON CAR LOAN ARE WE BOTH GETTING CREDIT FOR PAYING CAR OFF?

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If the lender is reporting on both your husbands and yours reports then yes ontime payment history will be reflected on both of your reports. You need to look at your reports to know if the lender is reporting the account or not, I cannot tell you that. Be aware that usually when paying off and closing a loan, your scores will actually decrease for closing an active account. There are many ways to build and maintain good credit, many things to read on this site and across the internet. Make sure you have revolving accounts in good standing as well. Revolving accounts are more important to a credit score than installment loans, if need be, start with Secured credit cards.

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