Just realized my credit score bumped 40 points after I paid off my car loan early last spring

I was checking my credit karma account on a whim Tuesday night and saw it jumped from 680 to 720. Turns out paying off that 2018 Honda Civic loan five months early dropped my utilization way down and added a positive closed account to my history. Has anyone else seen a surprise jump from paying off a single loan like that?

2 comments

2 Comments

wyatt_garcia12d ago

Had the exact same thing happen when I paid off my truck loan early last year. My score jumped about 45 points and I was just as shocked as you.

miles_perez12d ago

Completely agree @wyatt_garcia, it's like the credit gods finally smiled on you.