Credit dropped 20 points

Credit dropped 20 points
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#1

Credit score dropped 20 points out of nowhere. I don’t know why. Someone help me figure out possible reasons


#2

I hear ya. That actually happened to me just a month or two ago. Figured mine out but that doesn’t make me an expert, by any means.

Probably need just a bit more information to address possible reasons that this occurred. If you recently paid off a non-credit card debt, ie, auto loan, mortgage, that does have a measured score dropping effect, maybe up to 25 points or so. Some think that having just paid off the car loan is a positive thing, and it is!! But, it seems to produce a boomerang effect in the other direction, ie, making the credit score drop.

So, if you care to offer a bit more on the details side, maybe the experts here can offer their wisdom regarding the drop. All the best!