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Binski642

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Increase Credit Score
I recently paid off my car loan and credit card bills with the help of refinancing my house and pulling out cash. I now only have $100 worth of credit card debt and I closed out a couple of credit cards after paying them off. I have $30,000 in school loans that won't be due until I graduate sometime next year. I have one major credit card open and one for an online retailer. The last late payment I have had on credit cards is from 2015. I thought my score would have increased more than it has with paying off my debt. What can I do to increase my score from fair to good?

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Your scores would've increased more if you hadn't done couple things... You refinanced, that's one new account open with high balance, you closed couple credit cards after you paid them off. You can't do much or avoid the refinancing, it benefits you in other ways than just credit scores, i.e.. lower interest rate, able to pay off other debts. But you can avoid closing your credit cards once it's paid, unless it has high annual/monthly fees and fees is due very soon. it might not a big deal if you have 8 other credit cards still open/active, but from your post, you currently only have two credit/charge cards, that takes away some of the potential score gain, to some extent your overall available credit limit and number of open/active accounts matters, if for nothing else, leave them open just for utilizations padding, and you do get bit of scoring boost if you have more accounts reporting zero balance. Other thing to consider before closing a credit cards, are you able to get by with whatever number of cards you have for next few years, as it might be bit counterproductive if you close two, then 6 months later you need add couple because the "what ifs" pops up. 

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Paying off a car loan tend to drop your scores as well, I know it's odd, less debt, low the scores, it usualy due to account type mixture, but that's going to happen whenever you pay it off. Of course the recent late payment(s) is holding your scores down as well. Your score just need time to let all the activities settle a bit and you should see your score creeping up.

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