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CCpierre

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Paying off my car loans - Yes or No?
I have paid off both my auto loans early and they both have very small outstanding balances. The only reason I am keeping them open is to help my credidt score by reflecting some diversity of account types. Yet my FICO credit reports say I have too many accounts with balances. Now I'm not sure whether to close them or not.

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For one, you do not get FICO here, you get Vantage and it is irrelevant in the real world. Closing the accounts will most likely bring scores down. Your way of thinking is correct on this, the advice you received is not.

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