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Loans, Credit Cards, and Credit Score
When I use the add a new loan estimator in the financial tools section, I get a drop of 2 points on my credit score if I obtain a $100 loan and a 21 point drop on my credit score if I get a $101 loan. How is it calculating this? Also, when I check that I will be paying off the entire balance of my credit cards, my score doesn't move up at all. Is this accurate? I was actually thinking about getting a $6,000 personal loan but it drops my credit score by 21 points. Actually, any loan over $100 drops my score by 21 points. Any thoughts?

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