10-30-2012 12:51 PM
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.
10-30-2012 01:37 PM
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.