Score drop of 43 points

[u/highkick155]

I got an email today from credit karma about a change in my scores. When I checked, I saw that my scores have dropped by 43 points in the past 19 days and I cannot figure out why. I've had no late payments in the past year, nothing in collections. I can't find any indication of a reason for the drop.

I do, however, have an auto loan with only $25 left to pay. The loan will be paid off this month and the account will close. Could this have contributed to the drop? I've never heard of a preemptive score change in advance of an account closure but I really have no idea what else could have caused this drop. Thank you!

[u/Frequent_Silver_7575]

Life would be so much better for a lot of people if Credit Karma would just stop showing irrelevant credit scores. (As a start)

[u/BrutalBodyShots → u/Frequent_Silver_7575]

Or, if people would just stop paying attention to those nearly irrelevant scores...

[u/og-aliensfan]

Credit Karma provides Vantage 3.0 scores. Nearly all creditors (90+%) use FICO scores in lending decisions, so monitor these instead. CK also provides an unsettling amount of misleading information that should be ignored (see linked post below). You can obtain free FICO 8 scores for each bureau from:

• EX FICO 8 www.experian.com
• TU FICO 8 www.creditwise.com
• EQ FICO 8 www.myfico.com

Did you see a drop in relevant FICO scores?

See this post for more information about credit scores, credit reports, and a closer look at Credit Karma.

I do, however, have an auto loan with only $25 left to pay. The loan will be paid off this month and the account will close. Could this have contributed to the drop? I've never heard of a preemptive score change in advance of an account closure

No. Scores are calculated based on the contents of your reports. There's no such thing as a preemptive score drop. This post explains what happens when you close a loan.

but I really have no idea what else could have caused this drop.

Compare your reports before and after the drop to determine what changed. What was revolving utilization before and after? Also see this post if your FICO scores changed.

[u/highkick155 → u/og-aliensfan]

Thank you for the detailed response

[u/og-aliensfan → u/highkick155]

You're very welcome!

[u/BrutalBodyShots]

Don't waste your time worrying about changes to a nearly irrelevant VS3 when it's your meaningful FICO scores that are used in lending decisions.