answersLogoWhite

Top Answer
User Avatar
Wiki User
Answered 2006-12-06 01:57:54

If the previous payments have been paid on due dates and not late. Paying each note on time is the greatest factor in credit scores. No, do not pay it off early. It looks better on your credit score if you pay it off by the deadline. Tip: Always pay a little more than the minimum payment.

001
๐Ÿ™
0
๐Ÿคจ
0
๐Ÿ˜ฎ
0
๐Ÿ˜‚
0
User Avatar

Your Answer

Loading...

Still Have Questions?

Related Questions

What actions would improve your credit score?

paying off your credit card bill


Does paying off your mortgage early affect your credit score?

Yes, it would help your credit score.


How can I get a higher credit score?

You can take steps to improve your credit score. The number of variables that play into an individual score. Tips on how to raise your credit score and manage credit responsibly, including paying bills on time, paying off debt, and managing credit history.


Does paying bills improve your credit score?

Yes, payment history accounts for 35% of your credit score. So paying your bills on time will help you maintain a good credit rating.


Will paying of a student loan improve credit score?

Yes. But if you were in arrears, that still shows.


Does paying a secure bank loan early raise your credit score?

Not necessarily


Is it possible to pay to improve a credit score?

You cannot pay the credit rating bureaus to improve your credit rating. However, you can improve your credit rating by paying your bills on time and paying the full required amount due. If you can put additional money towards paying off your mortgage, car loan, student loan or credit cards, this can also help.


Does paying off high balance credit card help your credit?

Yes. Amounts owed accounts for about 30% of your credit score. Ideally your utilization rate should be 20% or less. Paying your credit card balance to 20% or less will improve your credit score.


Does paying off old bills improve your credit score?

it does not actually improve the score but if they are already turned over to the collection agency - it will just make credit score get worse and worse. the only way to improve score is by paying everything off ON TIME and letting time take it's course. Most bad stuff will drop off within 10 years


Is 807 a good credit score?

That is a very high credit score. A sign of paying all of your bills on time or early and having little credit car debt.


Will having an American Express Gold card improve credit score ratings?

No. The only way to improve a credit score is by paying contracts (debts) as agreed, keeping the credit to debt to income ratio at acceptable levels, and so forth.


Is 632 a good credit score?

Not really. You are below average, but not horrible. The low 700s are average. Improve your score by lowering credit balances, paying bills on time and diversifying your credit portfolio.


Will paying off loans early give you a lower credit score?

As long as you have had the loan open for 12 months and have been making timely payments it will not lower your credit score. It will actually increase your credit score to pay off early if it is an installment loan.


Can paying your credit card balance early hurt your credit score?

It shouldn't ! Paying off your balance early shows you're in good control of your finances - and can budget your bills based on your disposable income !


What can you do to help make your credit score strong?

The best pay to improve your credit score is to use your credit card (reasonably), and make your payments every time, on time. Paying for debts such as a loan, car payment, mortgage, and so forth will also improve your credit score. In most cases, the score goes up one point for every on-time payment.


Where can I find free credit scores?

A trustworthy site is Quizzle.com. Quizzle allows you to see your credit score without paying or getting a bunch of spammy emails. It also allows you to dispute parts of your credit score to improve it.


Isn't paying no interest loan by paying monthly due amount better than paying in full in term of improving credit score by having good payment history?

Making monthly payments on a no interest loan is way better than paying it off in full if you are looking to improve your credit score.


What is the difference between credit score and credit rating?

The difference between credit score and credit rating is simple Credit score (or credit history) is the history of paying back debt where as credit rating the the reputation for paying back money owing


If you pay off a credit card balance is it bad your my credit report?

not always, depends on your credit situation. keep using and paying off your credit card every month to improve your credit score


Does paying your car loan on time raise my credit score?

Paying a debt on time improves your credit score if you had previously not been paying on time (or not at all!)


Do subsidized loans affect credit?

Subsidized loans will affect your credit score negatively if you are not paying them. If you are paying them, they will have a positive effect on your score.


Does buy a new car help get credit?

Only if you make every payment on time. If you mean paying cash for as new car, no that does not improve your credit score


Does credit score improve if you purchase a new car by financing instead of paying it all with cash?

Yes...If you get a car loan and make your payments on time this will help your credit score. If you pay in cash, nothing will be reported to the credit agencies.


Where can I find financial advice on mortgages?

It will affect your credit score, but not in a negative way. Paying anything off early or making more than the minimum payment always has a positive affect on your credit score. However, first check with your mortgage company to make sure they will not penalize you for paying your loan off early, some companies will do this. (but that still wouldn't affect your credit score.)


How can I improve my changes of getting approved for a credit card?

You can start by never paying over your limit on a credit card. You will have a good credit score that way and will always be approved. If you do go over your limit and fail to pay back the debt in time, your credit score will get worst.