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Deferrment affect on score?

New Contributor

Deferrment affect on score?

Hi everyone! I just had one of my student loans deferred cause I'm back in school, one was inelligible for whatever silly reason. No big deal, I can afford to pay them, but I was wondering what, if any, affect the deferrment would have on my credit score?

 

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2 REPLIES
Established Member

Re: Deferrment affect on score?

Looking at it from a linear prespective, deferments do not affect your score as long as you pay when payments are due. On the other hand, since your FICO score is the sum of a number of components like your total debt balance and the number of balances on your accounts, your score might take a small hit.

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Regular Contributor

Re: Deferrment affect on score?

Yup, while your student loans are deferred your monthly payment is basically set to $0 and your account should be updated "Paid as Agreed" or something like that each month.

 

I definitely did notice that after graduating my PSECU FICO went from the 805-815 range down to around 780 for no apparent reason where it's stayed since.  I've had no new accounts, utilization increase or anything of the like either.

Walmart Discover TU08 FICO 12/07/15: 767 PSECU EX V2 FICO 12/05/15: 735
AMEX EX08 FICO 12/19/15: 778 PenFed EQ NG2 FICO 12/01/15: 717
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