Will paying off my car improve my credit score?

[Koshan18]

I’ve had the car for 5 years.  Refinanced once and no late payments.  I’ve got the money to cover the payoff amount but wondering will it improve my score or hurt it? 

[tagteam · Accepted solution]

It can possible hurt your score depending upon your credit mix.

See https://www.experian.com/blogs/ask-experian/does-paying-off-a-car-loan-early-hurt-your-credit/

See also https://www.bankrate.com/finance/debt/pay-off-truck-or-credit-card-debt.aspx