How Does Paying Off a Loan Affect Your Credit Score?

By Steven Shaw on 2/20/2013
How Does Paying Off a Loan Affect Your Credit Score? (via Credit.com)

With credit playing such a huge factor in your financial future, it’s no wonder we look for ways to maximize our credit scores. One common strategy for building your credit score is to pay off credit card debt. It can give your credit score a nice boost, especially if you’re carrying a large balance…

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