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Posted in Auto Loans
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Question By
kree03

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I just paid off my car loan and my credit score dropped 82 points why does this happen

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Average age of credit history is calculated by open accounts, which does not include closed loans.  I know it feels like a punishment, but it is just a normal fluctuation. 

Congrats on paying off your debt!

Reply by
NWFSP

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Helpful to 1 out of 1 people

It is a punishment and you need not insults us consumers by trying to sugar coat this garbage that the credit system thinks they can get away with.  we all need to come together and do something about this unjust system.  Shame on you.  And i would apppreciate no response from you.

Reply by
NWFSP

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Helpful to 1 out of 1 people

I'm reviewing all these people here on CK saying the same thing, that after they paid their car off their scores dropped significantly some 58, 82, 32 points.  This is our life and it's game of money for the credit system to be able to charge us more interest on our next loans in order that this credit system can keep us at a certain level of life.

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