How impactful is paying off loans early to a credit score?
I have a large student loan, $72k (just graduated in May) and small car loan (parents co-signed, 1.5% interest). I’ve never had a credit card, I’ve only had my student loan on my credit history. I financed my car, 5 year loan, paying it off in 12 months. Minimum payment is $211 I pay about $950/m to knock it out, then will roll that into my student loans. I’m curious though, for the last 5 months of way-overpaying my car loan, I haven’t seen my credit score improve all that much (using mint and credit karma). It’s gone up maybe 12 points in total. Will this jump up at the end of my car loan if I pay it off 4 years early? Is paying it off early not that impactful? Should I be paying the minimum from now on and putting the extra cash flow to my student loans that I have been paying the minimum on?
P.s. before people freak out, I maxed my Roth for 2018 and plan to for 2019 as well. I’m saving on top of my debt payments. 22 years old.