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grumpydumbass1

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do loan payoffs affect score

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YES when you close out a loan your score will drop a few points but congrats on getting out of debt the few points you lose is worth not paying the interest anymore and having one less monthly payment....the best way to off set this is to have a credit mix...installment loans, credit cards together will maximize your scoring potential and remember to keep credit card utilization under 20% ie: $1000 limit don't spend more then $200 on it per month or make mulitple payments to keep it under 20%

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