1853 Search Results
1853 Search Results
https://www.sofi.com/learn/content/why-did-my-credit-score-drop-after-paying-off-my-car/
Lowering your debt to improve your credit score means that you are considered less of a risk to a lender. And with a higher credit score, you will qualify for better financing terms. However, in some cases, paying off a car loan or other type of financing can have the opposite effect and actually lower […]
https://www.sofi.com/learn/content/why-did-my-credit-score-drop-20-points-for-no-reason/
There are several explanations for why your credit score might fluctuate by a few points now and then. But if you’ve noticed that your score is down by as many as 20 points, and you can’t think of any reason for this dramatic drop, it’s a good idea to do some checking ASAP. This can […]
https://www.sofi.com/learn/content/why-did-my-credit-score-drop-100-points-for-no-reason/
Credit scores measure your financial health at a given point in time. Ideally, your score increases as you build your credit history, so a sudden decline can leave you wondering why. Several things can cause a credit score to fall 100 points (or more), and late payments are often at the top of the list. […]
https://www.sofi.com/learn/content/why-did-my-credit-score-drop-40-points-after-paying-off-debt/
It may come as a surprise, but sometimes your credit score drops after you pay off a loan or credit card debt. This happens because paying off debt can impact several factors that make up your credit score. For example, it might change your credit mix, shorten your credit history, or impact your credit utilization […]
https://www.sofi.com/learn/content/why-did-my-credit-score-drop-40-points-for-no-reason/
A minor drop in your credit score — like the less-than-five-point drop you’ll temporarily encounter after a hard inquiry when applying for credit — is nothing to sweat in the long term. But a 40-point drop is more worrisome. Are you asking yourself, “Why did my credit score drop 40 points after paying off debt,” […]
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