 TITLE: Why Did My Credit Score Drop When I Paid Off a Loan? CONTENT: Learn More About Credit Scoring Factors\n---------------------------------------\nBecause paying off a loan often only has a minor impact on your credit scores, it generally makes more sense to focus on the major scoring factors:\n*   **Payment history** is the biggest factor making up your credit scores, which is why it's especially important to make on-time payments if you're paying down other loans or using credit cards. Even on-time payments on non-credit accounts, such as your utilities and phone, can help improve your scores if you sign up for Experian Boost™† .\n*   **The balance on your revolving credit accounts**, such as credit cards, is also an important factor. Keeping balances low relative to your credit limits (also known as a low credit utilization rate) can significantly help your scores.\nOther factors can also be important, such as the length of your credit history, your experience with different types of accounts and your recent credit usage.\nUnderstanding how credit scores are created and which actions can improve or hurt your scores can help you strategically manage your accounts moving forward. For more information, see \"What Affects Your Credit Scores?\" END