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R
rd270q
February 7, 2020
Question

Paying off Debt and Credit score

  • February 7, 2020
  • 1 reply
  • 0 views

What will my credit score be if I pay off my debt?

1 reply

A
Anonymous_
February 7, 2020

No one can actually state, with any certainty, what your score would be; it could increase or decrease (temporarily most likely) depending upon other factors, like your payment history (which will not be impacted by paying off debt). 

 

Review the following sites for more information.

 

https://www.nerdwallet.com/blog/finance/credit-score-pay-debt/

 

https://www.bankrate.com/loans/personal-loans/credit-score-fall-after-paying-loan/

 

https://www.businessinsider.com/why-credit-score-goes-down-after-paying-off-loan-credit-card-debt

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