• womjunru@lemmy.cafe
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    3 days ago

    That’s so ridiculous. Either way, it’s back up again but that drop was kind of a shock.

    • Triasha@lemmy.world
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      1 day ago

      Credit scores aren’t just about how likely you are to pay back loans, they are about how much money can be made off lending to you.

      Pay off loans early, and the lender makes less money, so your credit goes down.

      Closed accounts, inactive accounts, those aren’t making anyone else money, so less credit score.

      Paying on time is the biggest risk of lending, so it has the biggest impact, but doing things that lose your creditor money can make a difference on the margin.