Thread: How to Increase auto score for Car Loan

So. I will have my car bought back from me. the car is $71k.
I'll receive money back and purchase a new car.. the problem is that my auto score has gone down to 497 because of 2 late payments. Once the car is paid off my Credit rating should jump up right since its a large loan that will be paid off.

I need over a 600 to qualify again.
I have a cc @3800 with a $4k limit which i will pay off when i receive the check
another with $500 Limit and im at $400.

How much shall my score increase after this... Im using true credit and my score is 100 higher than stated at this specifice dealer..

I need my experian score UP UP!!

Any suggestions?
I've written letters before, as i just want to see if there is anything else i can do.

Yes you should see a nice boost after taking all these steps. I'm curious to hear how much it goes up and how long it might take (maybe a month or two?).

I still don't understand why paying down my cc to 1/3 instead of.. paying it all off is better.

Some people say maintaining a small balance is slightly better than paying it all off. I pay mine all off every month I'm able, and my scores are good so I personally think the difference is small, if it exists.

i heard having a small amount of credit is better than no credit as it shows that your trusted and shows that you can pay it back reguarly.

Your credit scores change when new information is reported by your creditors. So your scores will improve over time when you manage your credit responsibly. Here are some ways to improve your credit scores:

• Pay your bills on time
• Keep balances low on credit cards
• Pay off debt rather than moving it between credit cards
• Apply for and open new credit accounts only when you need them
• Check your credit report regularly for accuracy
• If you have missed payments, get current and stay current