Credit score dropped by 17 points

[Anonymous]

I recently paid off (2) closed Chase credit card accounts. The accounts had been closed for over 7 years, but I was still paying down the balances as agreed. The next month after it showed both balances were zreo, my Equifax score dropped by 9 points and my Experion score dropped by 17 points. I have not taken out any new loans, credit cards are added balances to my other open credit accounts.

What's going on?

[simplynoir]

Are the accounts still on your report once you paid them off or did they fall off?

[DollyLama]

Were either one of the accounts your oldest credit card compared to the ones you have now? 

[Anonymous]

They will go up eventually, it's a short term loss.  However, you do need a CC to report a balance to help your scores.

[Anonymous]

Good questions posed by those that already replied. I look forward to the OPs response, as it will definitely make understanding what happened here more clear.

[Anonymous]

Yes they are still on my credit report.

[Anonymous]

Yes they were the oldest, but have been closed for several years.

[Anonymous]

I do have three other open credit cards with very minor balances compared their credit limit (9% balance to limit ratio) if that makes any difference.