How does paying off a $3200 balance decrease scores???

[Anonymous]

Exactly right above.  We're finding out that the OP has multiple other open installment loans, further punctuating the point that the score drop they received was not at all related to the closure of that first auto loan.

I would think that the inquiries associated with the 2 new loans, the possible AoYA drop and AAoA drop from the 2 new accounts would be more than enough to constitute the scores drops the OP experienced.

[Angieh]

Thanks for your reponse.. Just glad I purchased my home prior to paying off the car.. Back to work I go... 

[Angieh]

My score took the hit because of payng off the car.. I have a myfico.com account and it lets me know when my score takes a hit and what causes that hit.. Either way I am back to getting my scores up again.

Thanks

[Anonymous]

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@AngiehMy score took the hit because of payng off the car.. I have a myfico.com account and it lets me know when my score takes a hit and what causes that hit.. Either way I am back to getting my scores up again.

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This is not correct above and you're misunderstanding how the alert system works.  Your MF account provides you with alerts when there's a change to your credit report (that's alertable, as some changes aren't).  Any time you receive an alert, you are provided with a FICO score at that time based on your CR at that moment.  This does not mean that the alert you received has anything at all to do with the score change you experienced.  Based on what you've said thus far in this thread, it's 100% impossible that the score hit you took was from paying off your auto loan.