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Did your credit score drop after paying off a loan? Here is why

Did your credit score drop after paying off a loan? Here is why
Photo: WDIV ClickOnDetroit (NBC) - Local News · view original

Paying off a debt or closing on a home sale can trigger an unexpected drop in your credit score. Here are three common reasons scores decline after responsible financial moves: Paying off an installment loan: Paying off and closing a mortgage or auto loan can temporarily lower a score. Scoring m...

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