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Quick question:
I am rebuilding my credit and currently have two student loans in deferrment. Always have been paid as agreed- except one of them with a 30 day late in 2008. Question_ they aren't scheduled to come out of deferrment until May- however if I were to take them out of deferrment and start paying them every month- would it help to increase my FICO score? I currently have NO credit cards or any other loan accounts. So basically, I have NO accounts showing that I am currently paying a balance on.
@bruiseviolet wrote:Quick question:
I am rebuilding my credit and currently have two student loans in deferrment. Always have been paid as agreed- except one of them with a 30 day late in 2008. Question_ they aren't scheduled to come out of deferrment until May- however if I were to take them out of deferrment and start paying them every month- would it help to increase my FICO score? I currently have NO credit cards or any other loan accounts. So basically, I have NO accounts showing that I am currently paying a balance on.
Your deferment status has nothing to do with how much your payments are affecting your FICO score. As long as your accounts are reporting positively, you will see an increase in your score over time, as your length of credit history becomes longer.
Some others might suggest that you get at least one credit card to help establish/rebuild your credit history. That is entirely up to you, & I'm not encouraging or discouraging you. Just giving you information