Credit scores may drop after paying off debt like loans or credit cards because it can affect scoring factors such as credit utilization and mix of accounts.
Credit cards is not free money, but a loan. You need to pay for what you have bought on credit card. If you don’t pay full or pay minimum balance you will have to pay more as you will be charged interest, huge interest. This article talks about Paying Credit Card Bill, how to r...
Note also that, overall, the AMEs increase with the education level: in the rural sample, for example, completion of primary education lowers the probability of saving on MFS by 8.3 percentage points compared to the non-educated; a secondary and a college degree lower it by 14.4 and 20.6 ...