Paying off loans - effect on credit score
I have two loans. One 10k one 7k. I plan to pay off the 7k one and then reschedule the 10.5k at a lower rate. I've built my credit rating to Excellent with Experian and via MSE and Good with TransUnion via Creditkarma
Next year I plan to take out a car on lease.
I're read that paying off a loan can affect my credit rating, especially if I pay off the smaller loan.
Any advice bearing in mind I want to take out a car lease next year.
Like rugby scrums - sussing out credit criteria seems a black art.
Thanks in advance.
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