$500 for 90 days

[Anonymous]

Borrowed $500 for 90 days from our credit union, just trying to get a little boost. Question is, should i take the full 90 days to pay it back or pay it back early? How will that affect my  ratio  and utilaztion.  Don't owe anything else.

[pizzadude]

By the time it reports to the CRAs you may have already passed the 90 day window. Do you know how long your CU usually takes to report TLs ?

I see no advantage to paying the loan off early.

[Anonymous]

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@pizzadude wrote:
By the time it reports to the CRAs you may have already passed the 90 day window. Do you know how long your CU usually takes to report TLs ?

I see no advantage to paying the loan off early.

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+1

I would also recommend waiting. I would pay off around 3/4th then that last 1/4th when you know for sure that it has been reported.

[MarineVietVet]

I'll play devil's advocate here. As long as you don't deplete your savings I'm always in favor of paying off any debt as fast as possible. Being debt free should be your #1 priority. But that's just me. Any different approach to this is just as valid as mine.

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".