Yahoo Answers is shutting down on May 4th, 2021 (Eastern Time) and beginning April 20th, 2021 (Eastern Time) the Yahoo Answers website will be in read-only mode. There will be no changes to other Yahoo properties or services, or your Yahoo account. You can find more information about the Yahoo Answers shutdown and how to download your data on this help page.
Trending News
Paying off truck. How will this effect my score?
I bout a new truck in Feb 2007. I will be paying off the loan ($17,000) next week. What impact will this have on my credit report?
7 Answers
- 1 decade agoFavorite Answer
I would pay it off more slowly so that you establish a longer term payment history. Make 6-12 larger payments. You'll be establishing more on-time payments, and significantly reducing your debt -- this is the easiest and quickest way to improve your score.
- ?Lv 71 decade ago
This is to quick. Make at least 12-payments before you pay it off in full. This will raise your score and this is what lenders look for when deciding weather to approve a loan.
Source(s): Finance Manager for a car dealer for over 7-years. - Anonymous1 decade ago
Of course it will raise your credit rating if you have paid your note in full with out any late payments.
- How do you think about the answers? You can sign in to vote the answer.
- Anonymous1 decade ago
None, it may even raise it because you will have less debt.
