Paid off my Auto Loan and score dropped. Ugh!

[disdreamin]

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@sjt wrote:

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@disdreamin wrote:

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My only active installment loan closed toward the beginning of August and cost me around 22-25 points. I find the large drop @sjt experienced to be surprising given that. Is it just a difference in files that cost them more and me less?

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Someone mentioned to me that the higher the score, the bigger the drop. So maybe that's why I got a 41 point drop. The drop wasn't so severe on my FICO 9 and Vantage scores. I got a 2 point bump on FICO 2.

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Hmm...that seems odd as my FICO 8's started at 850, 848, and 841 before the closed loan reported - they dropped from there to 825, 826 and 818 respectively. That 41 point drop still seems odd.

[sjt]

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@disdreamin wrote:

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@sjt wrote:

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@disdreamin wrote:

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My only active installment loan closed toward the beginning of August and cost me around 22-25 points. I find the large drop @sjt experienced to be surprising given that. Is it just a difference in files that cost them more and me less?

---

Someone mentioned to me that the higher the score, the bigger the drop. So maybe that's why I got a 41 point drop. The drop wasn't so severe on my FICO 9 and Vantage scores. I got a 2 point bump on FICO 2.

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Hmm...that seems odd as my FICO 8's started at 850, 848, and 841 before the closed loan reported - they dropped from there to 825, 826 and 818 respectively. That 41 point drop still seems odd.

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Did you have other installment loans or mortgage (opened or closed)? What is your AAOA? I only had one installment loan and no mortgage.

[disdreamin]

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@sjt wrote:

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@disdreamin wrote:

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@sjt wrote:

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@disdreamin wrote:

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My only active installment loan closed toward the beginning of August and cost me around 22-25 points. I find the large drop @sjt experienced to be surprising given that. Is it just a difference in files that cost them more and me less?

---

Someone mentioned to me that the higher the score, the bigger the drop. So maybe that's why I got a 41 point drop. The drop wasn't so severe on my FICO 9 and Vantage scores. I got a 2 point bump on FICO 2.

---

Hmm...that seems odd as my FICO 8's started at 850, 848, and 841 before the closed loan reported - they dropped from there to 825, 826 and 818 respectively. That 41 point drop still seems odd.

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Did you have other installment loans or mortgage (opened or closed)? What is your AAOA? I only had one installment loan and no mortgage.

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I had only one open installment loan at the time, all others were reported as closed. The drop occurred when that last installment loan reported as closed.  AAoA is about 12 years depending on the report (two are 12 years 1 month, the other is 13 years 1 month).