Posted: 4/25/2014 10:11:40 AM EDT
to reflect a debt pay-off? I'm VERY,VERY close to paying off the last/only debt I have  .How long before the fact that I have ZERO debt shows up in a Credit Report?
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It will depend on when your creditors report it to the credit bureaus. To be clear, not having any debt is not necessarily good for your credit. If you closed your accounts after paying off your debts then your credit score will go down. So if you paid off your credit card and then canceled the card, you will have a lower credit score than you had before paying it off.
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Quoted:
It will depend on when your creditors report it to the credit bureaus. To be clear, not having any debt is not necessarily good for your credit. If you closed your accounts after paying off your debts then your credit score will go down. So if you paid off your credit card and then canceled the card, you will have a lower credit score than you had before paying it off. Bastards get you no matter what...............I'm bumping on 69 years old and I've NEVER had an accurate credit report.... |
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Quoted: Bastards get you no matter what...............I'm bumping on 69 years old and I've NEVER had an accurate credit report.... Quoted: Quoted: It will depend on when your creditors report it to the credit bureaus. To be clear, not having any debt is not necessarily good for your credit. If you closed your accounts after paying off your debts then your credit score will go down. So if you paid off your credit card and then canceled the card, you will have a lower credit score than you had before paying it off. Bastards get you no matter what...............I'm bumping on 69 years old and I've NEVER had an accurate credit report.... Your credit report is, contrary to popular propaganda, a guide to whether or not banks can milk lots of money out of you by lending you money. Borrowing money, paying it off quickly and not borrowing more money or keeping revolving credit accounts open shorts the banks on interest and fees.
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