Credit Score Drop After Paying Only Installment

[Iusedtolurk]

Paid off my only installment and was waiting for it to update on my credit report.

Dreading the point loss that usually come with paying your only open installment that is widely talked about as  anywhere from 25-30+ points loss.

Have a total of 4 closed installment now.

I was going to try to open a small ssl to have an open account when this one drops but decided to wait and see what affect my score was going to show.

Have about 10 days before my Fico Trans and Fico Equifax updates but did noticed my Vantage for Equifax reflected a 1 point drop when it updated from open to closed.  Didn't put much into it knowing its Vantage.

Checked my Experian Fico score today with the updated (only installment loan paid off ) showing zero open installments.

Looked at my score and saw I had loss............

(1) point

I was like

[DoctorManhattan]

Haha great news !

[KLEXH25]

I hope that's all you lose! Keep us updated. 

*Btw, do you remember what the point gain was when you got to < 8.9%? Just curious. 

[Anonymous]

Must be nice. I paid off a loan a few months ago, and still had another one active, and lost 7 points, with no other scorable changes at the time...

[Iusedtolurk]

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@KLEXH25 wrote:

I hope that's all you lose! Keep us updated. 

*Btw, do you remember what the point gain was when you got to < 8.9%? Just curious. 

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I'll see the Fico affects (Trans and Euifax) in about another week. Don't remember any noticeable changes directly concerning the <8.9.  had a lot of things going on at the same time.