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Paid off Auto Loan lowers score?

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Anonymous
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Re: Paid off Auto Loan lowers score?

I paid off my 60-month auto loan last month and Fico monitoring reports my score dropped 17 points as a direct result. This is my only installment loan, however; the rest is CCs and one student loan. Guess I'll go looking for a small installment loan, maybe a furniture store... hubby says he wants a recliner. [*chuckle*]

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