Got my credit score yesterday

[disneysteve]

Once Dr. Steve utilizes credit via his car loan, how much does that lower his score having applied and accessed something like $ 11K? During the months the loan is 'active' does the score reduce by 50 points or more? Does it revert back as soon as loan balance is cleared?

I was wondering about that, not that I particularly care, unless we have to replace the van sometime soon. I suppose I could pull my score in a month or so to see but it's not worth paying for that.

[bjl584]

I was wondering about that, not that I particularly care, unless we have to replace the van sometime soon. I suppose I could pull my score in a month or so to see but it's not worth paying for that.

When my stepdad paid his mortgage off a few years ago his score took a hit for a while. I guess they would rather see you make a payment on time than to not have a payment. He did make a lump sum payoff amount of around $20K, so maybe that had something to do with it.