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TopicIs it myth that paying off your credit cards hurts your credit sorce?
TheBiggerWiggle
02/28/21 11:54:05 AM
#21:


Want to know some fuckery? Paying off a loan actually hurts your credit score (since it closes an account and lowers your overall credit age). My score actually dropped 4 or 5 points when I paid my car off. Shit is a scam lol

For credit cards you can pay them off without any negative effect. Things that negatively effect you include high balances, high percentage of credit used, and late payments.

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