No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
on my last credit report, my reported balance on student loans was zero -- presumably because my student loans then were in deferment
Now my loans are officially in repayment, and I expect to see a $30,000 balance on my next credit report. I suspect my FICO score will take a hit, but maybe it won't be so bad? I mean, FICO likes to see accounts being paid down reliably, and that's what I'm doing.
So just looking what to expect here. I'm nearly at 700 but I think this might set me back a bit
i've never heard of anyone's student loans showing as zero because of deferment. That's pretty strange. Although installment loans are not a high percentage of your overall score, I would imagine that 30k of debt magically appearing on your reports will hurt you somewhat. Has anyone else ever experienced this? Mine have always shown their balances.
Recently some federal school loans showed zero balance because of the technology transition. Mine are consolidated through Direct Loans, and they showed zero for a while. Now they are back to normal. That could be what happened. My scores didn't wiggle around much during that time, so it didn't have any sort of effect on me.
maybe the tech thing explains it... I vaguely recall that one day, maybe two or three months ago, my loans were in deferment for no reason. Also the servicing site was down. It was a total mess.
not much I can do about it in any case. thanks for the info