I wish this were true, but I have personally seen my credit score go down when I finished paying off accounts like car loans. A FICO credit score is a measure of how profitable a customer you are, not how likely you are to pay it back. Credit cards are a particularly expensive way to do this, but lemme assure you that taking out a mortgage will do wonders for your score.
I wish this were true, but I have personally seen my credit score go down when I finished paying off accounts like car loans. A FICO credit score is a measure of how profitable a customer you are, not how likely you are to pay it back. Credit cards are a particularly expensive way to do this, but lemme assure you that taking out a mortgage will do wonders for your score.
Yes, i was talking about revolving credit