Student Loan Consolidation Dropped My Score 13 Pts?

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I recently consolidated my federal student loans and my TU Vantage dropped 13 points. Closer look shows the consolidated loan as a "new account" and the old accounts are showing "closed".

Now CK shows my AAoA at just under 2 years down from 8 years. I thought closed accounts still report? Why is the new consolidated loan hurting my score as a "new account"? It's not like it was seeking more credit. I simply merged multiple loans into 1 for simplicity.

How bad is a 13 point drop? I'm worried my cards will get their lines cut. For context my Vantage dropped from a 746 to a 733.

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renegadellama

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Posted: 3 years ago
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