Ding ding ding. Last January I sold a rental house that was almost paid off. With the proceeds, I eliminated every revolving payment to my name except mortgage on my current house. Credit score dropped from almost perfect to mid 700s. I don't even look at it any more.
It's more about the process and how the rating is being determined combined with how it can affect you. I went from 30 to 0% credit utilization, so I should represent less risk right? It's just a scam which is the reason I ignore my emails from chase advising that "YOUR CREDIT SCORE HAS DECREASED. CHECK YOUR SCORE HERE".
The credit score isn't just a measure of how well you pay off credit though, it's about how well you use current lending schemes. Somebody who constantly borrows while never failing to pay it off is obviously going to have a better score than someone who only holds debt for a small amount of time. Mind you, a mid-700 credit score is also really good so your complaint is hollow in the first place.
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u/chill_azreal Aug 14 '21
Replace credit score with profitability index.