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Robkelley
New Member

Credit score decrease

My credit score has dropped by 6 points April to July 2023

only change 1 auto loan paid in full, that change should increase my credit score not decrease

 

 

3 Replies

Credit score decrease

This forum is for questions about tax law and using TurboTax. 

Credit score decrease

You need to study your credit report to find out what changed.   Possible reasons are a  missed payment, late payment, new credit card application, or change in your credit limit. 

Credit score decrease


@Robkelley wrote:

My credit score has dropped by 6 points April to July 2023

only change 1 auto loan paid in full......


See https://www.equifax.com/personal/education/credit/score/why-credit-scores-may-drop-after-paying-off-...

 

Further, a 6-point decrease is generally not consequential.

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