Paying Off Loans: What Happens to Your Credit & DTI
Update: 2025-11-19
Description
Paying off a personal loan is a financial victory, but it may cause a slight dip in your credit score due to changes in your credit mix and age. However, this is usually temporary. The real benefits include a lower debt-to-income ratio, improved financial health, and more cash flow. Keep records of your final payment, check for automatic withdrawals, and plan for your extra money to maximize your financial progress.
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