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Posted in Auto Loans
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gsnake911

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Paid off car loan. Now have worse score than better??
So when we got our tax return we payed off our our car loan and now on Credit Karma it is reporting that I have a worse score for doing do so. Here's what I mean: under credit rating it went down 5 points and says that my credit limit is $0 and my Balance is shown as $2,580. It get worse on my Vantage Score I lost 74 points. Finally under payment History I now now have a “F” cause it says I missed one payment when we never missed any???
It doesn’t make any scene I thought that my score would have gotten better not worse.
Just a note I have had credit cards that I messed up on so now I don’t have any other credit card and this is why I was hoping for an improvement.

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Sometimes..

It takes a little bit for your credit score to reflect the positive changes you've made. For example this past fall my score dropped 40 points when my school loans reported that I was delinquent, even though I wasn't, they had been deffered due to me returning back to school. My score stayed like that for about a month and once they reported to the credit bureau again it went right back up the points that I had lost.

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