Don’t expect too much. In terms of credit score, it takes time and effort. Also, the score is calculated based on various factors such as how much % you’re using out of your total credit limit, how many credit accounts you maintain, and for how long, etc. One time pay-off may have good impact by decreasing your total loan % over total limit and can boost a bit more points but not much, i guess. Yes, it’s automatic update and may take 2-3 months. Yes, if it’s home mortgage payment, i think the impact could be huge, i agree. If it’s auto balance, it may depend on how much balance you paid off but it’s not gonna be as big as mortgage pay-off case.
