>>20215931Paying off a loan just closes your future credit history, so it goes down because of that.
>Because they can't collect interest anymore?Nah. It's basically like closing a loan account, a loan account you just finished paying off. It might lower it because now you won't have a future paper trail of history showing that you're responsible paying off your loan.
Basically, these lenders like to see you in debt but you're a good little boy who pays all his debt.
