topic Re: Lowered score in Credit score

Lowered score

Maleficent658 — Sun, 08 Sep 2019 19:36:35 GMT

I just payed off my student loans, which closed that account. My credit score went down. Why?

Re: Lowered score

Anonymous_ — Sun, 08 Sep 2019 21:51:33 GMT

In all likelihood, it is only temporary.

See https://www.businessinsider.com/why-credit-score-goes-down-after-paying-off-loan-credit-card-debt

Re: Lowered score

Anonymous — Sun, 08 Sep 2019 22:56:11 GMT

how paying off student loans can affect credit score

https://studentloanhero.com/featured/student-loans-credit-score-how-paying-off-your-student-loans-affects-your-credit-score/

Re: Lowered score

AdrianG001 — Mon, 09 Sep 2019 17:20:11 GMT

If you’ve recently closed an account, your score might drop. If the account was quite old, then closing it can cause the average age of your accounts to fall. Sometimes your score may follow suit. Closing an old account can also mean you have less credit available overall. If, by closing the account it pushes your credit usage over the 50% level, then it could negatively impact your score.

Regards,

Adrian