My credit score finally hit 760 after paying off my old student loan from 2015.

I honestly didn't think it would jump that much, but it unlocked a much better rate when I applied for a car loan last month, so has anyone else seen a big bump from closing an old account?

4 comments

4 Comments

lilya762mo ago

Yeah, closing that old loan probably helped your credit age a lot.

dakotab931mo ago

Wait, didn't closing an old account hurt your credit age though?

milarodriguez2mo ago

Wait, isn't it the opposite? Closing your oldest account usually hurts your average credit age. That's what my friend found out when she paid off her student loan. Her score dropped a bit because it took away her longest credit history.

wesleyb202mo ago

Totally, same thing happened when I paid off my car. Score went up pretty quick after that.