Credit Score Dropped

[Anonymous]

Why did my credit score drop on Transunion? 

I paid $5000 on my car loan from 9500 to 4500. It has reported and now my score has dropped 57 points on Transunion (Credit Karma) It has not reported on FICO or Experian as yet so im waiting to see. All credit card payments are up to date and credit card utilization is 14%.  

Why is this?  

[wingennis]

I would not worry too much about your CK score.  They use a different-and mostly useless-model than FICO and the tiniest credit change can have cause huge score swings.  If your FICO scores move that much then something else is going on besides a large paydown on a loan.

[Anonymous]

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@Anonymous wrote:

Why did my credit score drop on Transunion? 

I paid $5000 on my car loan from 9500 to 4500. It has reported and now my score has dropped 57 points on Transunion (Credit Karma) It has not reported on FICO or Experian as yet so im waiting to see. All credit card payments are up to date and credit card utilization is 14%.  

Why is this?  

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Pay your CK scores (VS 3.0) no mind as they aren't Fico scores. 

Your Fico scores would not drop from a loan paydown from $9500 owed to $4500 owed. 

As an aside, if you can get your overall utilization down below 10% you should see a nice bump on your Fico scores.