does paying off auto loan help credit score
First off, paying off your mortgage or car loan doesn't necessarily help your credit score any more than paying those obligations on time, says Jeffrey Scott, spokesman for FICO, the developer of the most widely used credit score.ne of the most important factors in the FICO score is payment history, he says.o, you could charge $900 on a credit card with a $1,000 limit and pay it off the same month, but the FICO credit score will still consider a utilization rate of 90 percent. That means you should check how much you're charging each month and how that affects your utilization rate.