@Anonymous wrote:Well, I had disputed an old collection a couple weeks ago, and got notification via email it had been removed right away, so I waited a few days and went and requested my free copy of each report to ensure it was removed, and I also noted that the date listed on this auto loan "closed/paid off" is indicated as 5/4/21 on all 3 (so admittedly, actuallty the day BEFORE I posted this thread).
I am getting my scores from the MyFico subscription - The scores updated there the following day on 5/5/21. I admit I am not 100% certain on the exact timing/accuracy of those scores (new again to the app after stopping the subscription for a while), but they matched exactly - number for number - what the car dealership found when they ran my credit when I purchased my new car, so I was assuming (maybe inaccurately, LOL) that they are pretty close.
When I open up the score update for Experian, it indicates the 17 point score drop with the text "An account on your credit report has been updated" and when I open that alert it lists "BMO Harris Bank NA - amount $0.00 - PAID loan."
When I open up the score update for Transunion, it indicates the 9 point score drop with the text "The total balance of all of your Personal Finance accounts has decreased by $30,263" and when I open that alert, it lists previous total balance with an arrow pointing to the new balance. $30,263 is the amount of the closed BMO Harris loan on the traded in vehicle.
I presumed from these indicators that my score drop was directly related to that loan being closed, but I know credit scoring is a complicated beast and sometimes a bit of a mystery, so I was just wondering exactly how off base I am! LOL 😂 😂
Well IMHO what likely happened is that (a) your aggregate installment loan utilization percentage increased as a result of the 2 transactions and (b) you also lost some points for the inquiries, new account, and average age of accounts.
As to what happened when, I don't think we can say.
@Anonymous wrote:Thank you SouthJamaica - that is very helpful and makes perfect sense. Just trying to muddle my way through "getting it" haha!
We all develop our muddling skills here 
@SouthJamaica wrote:
@Anonymous wrote:Thank you SouthJamaica - that is very helpful and makes perfect sense. Just trying to muddle my way through "getting it" haha!
We all develop our muddling skills here
I think it's more like mudding skils
