Query regarding my credit score . My score is 595. My debt was $9800

Hi Bo,

I do have a query regarding my credit score . My score is 595. My debt was $9800 (Auto Loan).
After a month I paid 6000 usd and still my score is 595 ..

My score would get increased only after I pay all the auto loan .
How the logic is ..?
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How long have you had that loan. If its not at least a year old you will get no help.
What bureaus is this account being reported to and did you check that report and score
Did you give the bureaus 3o days to reflect the change in balance
and finally
what else is on your reports
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Thanks for the immediate reply .
This loan is from Aug 2008 .
In my report the debt amount its been updated to the recent one .(i.e the total amount I owe minus the amounty which i paid) .But the score is not been updated.

I saw the score through experian.
I am not sure of the reporting bureau for my credit account.

My question is I had paid 6000 USD , will it have any impact on my credit score , whether my credit score would get increased by repaying this much amount of money .

I paid 6000 USD by half – half amount , 3000 USD each .Last month around 22 nd July and 2 nd august.
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should be a big jump
no details leave me mifffed

so the loan is open
and you paid it down to 3800
and the report shows this yet no score change.
sounds to me like the loan is less than a year old. if so no help
it may take a month or more to have a score change
and a score change requires good current rated “12 months” credit
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If I repay the loan to 3800, the very next month , then its a good thing to do or i can pay 1000 or 500 every month and build the credit .

the problem is I am new to this country , i don’t have a credit card yet .
They are telling me to repay this loan and apply for a card .

So I just want to have a credit card too … thts why I am urging to finish this loan .
or is it advisable to get a sceure credit card ..
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