credit score down

[Nikhil416]

i recently closed one of my loan , but my credit score drop by 24 points ....any specific reason ....the loan i closed is not the oldest one !

 

[Skylar]

i recently closed one of my loan , but my credit score drop by 24 points ....any specific reason ....the loan i closed is not the oldest one !

Closing the loan might not be the reason for the drop.

 

[hitirfan]

i recently closed one of my loan , but my credit score drop by 24 points ....any specific reason ....the loan i closed is not the oldest one !

Check on One Score, they sometimes shiw the reason for drop

 

[Nilanjan]

closing any credit card and loan account always effects your cbil .. download one score and do register .. it will show yor retailed report

 

[Skylar]

closing any credit card and loan account always effects your cbil

Not true, Cibil has the closed credit card and loans in "Closed accounts section"
They are not removed from your reports.

 

[hitirfan]

I closed loan few days ago, my CIBIL Score increased by 1 point

 

[nirmal1410]

Check other reasons but yha it's important to have a long relationship with banks/FIs it improves your stability and proper mix of credits.