zunkmahoy

That's just not so.  I paid off my house 15 yrs. early, paid off my car, pay off all my credit cards every month and the scores move all over the place.  The insurance score is the worst offender. It's dropped 20 points in the past month with no activity at all.  No charges against my insuranc company, no changes in credit use or balances, no new loans,,, nothing.  It's just bogas!!!!!!

paying off your car SHOULD NOT ADVERSLY AFFECT YOUR SCORE - but it does also paying off your house. I watched my score fall 20 points when I paid off my house 13 years early 95K cash. This whole credit report thing is a scam!!!!!!!!!!!!

The whole process is a classic ripoff.  I watched my score drop 30 points and the only event was that I paid off my house 18 years early - 64K cash.  Yeah that should show I don't know how to manage money!

 All of this credit report crap is BULL.  I have just paid off, in November, a 15 yr. $126,000 mortagage and the effect is to see my credit score go down each of the last three months! I have NEVER been late on anything, 38 years shows here on my oldest account, and pay off all credit cards every month.  At this point I have no debt at all and I get penalized for doing a better job than 99% of the people in the world. Just proves that the whole credit industry wants you to do badly so they have an excuse to rip you off.

Because the whole deal is rigged!  They don't really care about your credit or your history. I'm living proof - credit score goes down when you pay off your house and have NEVER been late on anything.