Yeah, Capital One Credit Wise really isn't worth anything: Credit Karma provides a better interface in my experience for seeing the TU report data, and both providers give Vantage 3.0 scores, which really don't have much of anything to do with FICO frankly and shouldn't be used for score monitoring.
In addition to what's already said, I think some people have posted in thin file situations new accounts are even harder penalized than if I were to say pick up a new one. I'm not recommending going and getting a slew of cards just to get them, but generally 4-5 longer term is a good thing to shoot for.
Regardless I wouldn't worry about dips now during the initial building phase (expected while establishing new accounts), for FICO 8 having a SSL and paying it down is nothing but goodness always in the long term but usually in the short term too.
Thin files, particularly young ones, do see a magnified impact on score associated with new account opening. A substantial score drop is common with Fico due to the new account (AoYA drop to zero) and reduction in AAoA.
The greatest score drop is associated with young, thin files that had an AoYA over 12 months age.
VantageScore treats new account openings more harshly than Fico and does not appear to offer open loan score boost that Fico 8 and Fico 9 provide at a low B/L ratio. Your VS 3.0 score will rebound nicely in 90 days. I suspect you will see an increase in Fico score as well.
As others have said, you should check your Fico scores. Unfortunately, you have no before Fico scores as a reference to see how Fico treated the SSL when it reported.
Pasted below are some reason statements from Experian that come into play for thin, young files.
@Bees18 wrote:Just the balance paid under 8.9% (8.5 to be exact) not the full loan amount. I have credit monitoring through discover and capital one, my only two cards.
1. The Capital One is not a FICO score. Disregard.
2. The Discover FICO 8 TU score is updated once a month, and is outdated by a week or two. Please check the date on the score and make sure that the SSL was in fact reported prior to that date. Usually when a paid-down SSL is added to a profile which has no open installment loans, it causes a significant increase in FICO 8 and FICO 9 scores, despite the new account demerits.
@Thomas_Thumb wrote:SJ,
Good catch, I missed the Discover monitoring comment.
My Discover scores update on the 17th of each month. Not sure how date is established but it is consistent month to month.. As mentioned, the OP may not be seeing a paid down SSL in the score. Either way, the new INQ, new account and drop in AAoA & AoYA are likely to mute the benefit of the SSL short term
Regrettably, reliance on free scores (a) gives far from real time information, and (b) provides zero information as to what data has or hasn't been reported at the time the score is pulled.