@Anonymous wrote:
I just paid off a bank loan a month and a half early, i felt really good about getting that 325.00 note off of me.
Today i get an alert of a balance change from EQ, and i dropped 34 points for having paid this loan off.
This just blows me me away that the "system" promotes being in debit and paying interest in order to make you look credit worthy.
Its really disheartening !
Keep studying in-depth right here where you've just posted and after awhile when you realize the certain different (RULES) that affect FICO scoring (with yours it happens to be the Credit Mix factor right now) you'll be in a much better position to prepare the next time (adjust) and not become Shocked like so many before you and those yet to Gulp! from taking false confidence in expecting some numbers relief, only to discover that their paid off installment loan just blasted away those valuable FICO points we all come to depend on.
Sux yes, but it's a fact that every single one of us must expect to MANAGE as best we can given with what we have to work with.
