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Student Loan on credit

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Isacking97
Regular Contributor

Student Loan on credit

How loan it takes to a direct loan (federal student loan) to report to the credit bureaus? and how it will affect me?

 

 

 

 

I have 3 revolving accounts BP VISA ($300), Amex Everyday Card ($1800), Discover It Chrome Students ($500) and a average of 5 months of credit (oldest account 10 months)

TU: 698 EQ: 702 EX: 713

Inq TU: 3 EQ: 2 EX: 2



Starting Score:EX: 713 EQ: 698
3 REPLIES 3
Aduke1122
Senior Contributor

Re: Student Loan on credit

If you have no other installment loan it will help your credit mix and likely give you a good boost . As far as how long they have to report , it usually happens within the first 30 days of opening the loans
Message 2 of 4
grillandwinemaster
Valued Contributor

Re: Student Loan on credit

My loans repeated almost as soon as the funds were disbursed. It was real fast!


Current Scores 3/2016 Equifax 676 Transunion 697 Experian 648 Goal Scores: 720's accross the board. Gardening Goal: 3/2017
Message 3 of 4
Isacking97
Regular Contributor

Re: Student Loan on credit

Update

 

My lender is Mohela, My credit score just droped about 3-10 points yet I tell received a credit increase from Amex

 

AmEx EveryDay ($5,300)

Discover Chrome ($500)

Visa ($300)



Starting Score:EX: 713 EQ: 698
Message 4 of 4
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