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

Posted in Mortgage
Profile Image

Question By
JimPo

0 Contributions
0 People Helped
Once mortgage is paid off, when will I see an improved credit score?
I was a co-signor on my daughters mortgage. They just refinanced and removed me. Original mortgage was for $350K. How long will it take to show improved score. Credit Karma recognizes that it was paid, but my score hasn't changed yet.

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
1884 Contributions
3670 People Helped
Most Helpful Response

You may not see a big change

Helpful to 1 out of 1 people

As backwards as it seems, having the account paid off may not improve your score much.  It will lower the debt to income ratio but will also lower your available credit and raise your utilization,  Give it a few months and you will see your score balance out. 

Good luck

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

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.