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Student loan

Regular Contributor

Student loan

I finally got done paying off my student loan today of 1200 left over. Should I expect an increase in my credit score? I have 3 revolving account right now and keep uti at about 6-7%.  Also will the loan still report even though i pif? I heard closed accounts including loans last for 10 years.

TU 746 (10/13)
GOAL: 750+






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Senior Contributor

Re: Student loan

Congratulations on paying it off!

 

If that is your only installment loan, you *could* see a small drop.  If you do see an increase, it probably won't be anything dramatic.

 

Yes, the loan should still report even though it is now paid off.

Latest scores: Walmart TU: 769. MyFICO TU: 769. DCU EQ: 755. MyFICO EQ: 780. PSECU EX: 756. MyFICO EX: 780.
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