Installment Loan Payoff

[dman23]

Looking ahead and wondering if there is anything I should do. Currently I have 3 cc's, a car loan, and an installment loan. My 3 fico scores are in the 730's.

I had gotten my installment loan in order to rebuild credit and have another tradeline. In Juy of 2016 it will be paid off. I'm assuming when this is paid off my score will drop.

Is that a correct assumption?

Thanks.

[dman23]

---

@dman23 wrote:

Looking ahead and wondering if there is anything I should do. Currently I have 3 cc's, a car loan, and an installment loan. My 3 fico scores are in the 730's.

I had gotten my installment loan in order to rebuild credit and have another tradeline. In Juy of 2016 it will be paid off. I'm assuming when this is paid off my score will drop.

Is that a correct assumption?

Thanks.

---

Just to clarify. I have a car loan (which is an installment loan) and a personal loan (also an installment loan)