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Debt paid off - Equifax score drops, others rise - what gives?

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Debt paid off - Equifax score drops, others rise - what gives?

I pulled all 3 credit reports 2 months ago - the numbers were 717 - 727 for all 3.  At the time (2 months ago) I had just paid off all my debt except the house.  I went to re-finance the house this week and lending tree pulled a new credit report, exquifax had dropped from 717 to 666, while the other 2 went up from 727 to 777.  I pulled my own equifax from my fico and sure enough it's at 666.  I checked what's on equifax now verus 2 months ago and it's the same information.
 
So what gives?  Anyone else seen anything like this?
 
I understand why the others rose - since I paid off all credit cards, short term loans etc.
2 REPLIES
Moderator Emeritus

Re: Debt paid off - Equifax score drops, others rise - what gives?



barron wrote:
I pulled all 3 credit reports 2 months ago - the numbers were 717 - 727 for all 3.  At the time (2 months ago) I had just paid off all my debt except the house.  I went to re-finance the house this week and lending tree pulled a new credit report, exquifax had dropped from 717 to 666, while the other 2 went up from 727 to 777.  I pulled my own equifax from my fico and sure enough it's at 666.  I checked what's on equifax now verus 2 months ago and it's the same information.
 
So what gives?  Anyone else seen anything like this?
 
I understand why the others rose - since I paid off all credit cards, short term loans etc.


Something else must have changed.
New Member

Re: Debt paid off - Equifax score drops, others rise - what gives?

I agree with Tuscani, check EVERY single thing.  Sometimes some get updated faster than others.  Did an inquiry show up?  Did another card balance show up?  I removed one auto loan from my report and moved it to my ex's name and when it showed closed/paid off my score dropped 5 points, was very strange but I was told it was because auto loans are fixed loans and prove credit over time and that they will be paid off in a set time where as credit cards don't and can be charged back up.
 
You said the equifax showed the SAME, meaning debt doesn't show paid off either?  If that is incorrect maybe something else is also?