07-27-2007 01:44 PM
07-27-2007 01:59 PM - edited 07-28-2007 10:08 AM
r92503lind wrote:Generally speaking does paying off loans and opening up new installment accounts increase your score by showing a payoff?I know account history is a variable but not including this factor I am wondering if by taking the hit for the inquiry to get the new loans if it would pay off after two to three months.Any thoughts??
07-27-2007 02:33 PM
07-27-2007 04:08 PM
What are your 3 FICO scores?
r92503lind wrote:I am wanting to refi my car loan as I have a 11.5% interest rate and on the student loans I had a call from a lender saying it would save me money by consolidating..not sure how but haven't researched either.I have waited to do anything as I was looking to buy a house but then found my score was to low to qualify for the loan I wanted so now I am wondering if it matters to wait at this point.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.