Saptrus Posted August 9, 2003 Report Share Posted August 9, 2003 1) I have 2 car loans; thinking of getting rid of one car to pay off the loan.2) I have lots of credit card debt. Will it RAISE my score because my debt-to-income improves? Or LOWER my score because the mix of installment versus revolving changes? Link to comment Share on other sites More sharing options...
sisflomi Posted September 5, 2003 Report Share Posted September 5, 2003 It could end up doing harm or good. Its going to depend on how old the loan and just how much of a mix and how much debt you have on your report already. Maybe you can figure it out with this Link to comment Share on other sites More sharing options...
admin Posted September 5, 2003 Report Share Posted September 5, 2003 I wish I knew the exact answer to this question - if I did, I'd be rich (or Fair Isaac). Link to comment Share on other sites More sharing options...
kb9tbq Posted September 5, 2003 Report Share Posted September 5, 2003 My guess would be that your score will go up, since utilization affects 30% and you will have eliminated a good portion of your debt. Where as the mix of having more credit cards only affects 10%. Link to comment Share on other sites More sharing options...
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