I am a full time student in school and as a result am lucky enough to be graced with huge amounts of mounting student loan debt. Jealous? I know you are? Well for the privaledge of a higher education, my credit score is suffering because my student loans are on deferment, and the installment loan ratio is not going down. How am I to get my credit score up without having the money at the current time to pay down my student loans? Shouldn't this be a factor in the FICO? Also, I refinaced my car to a lower rate when my FICO went up and saved a ton of money. The probelm is that although over the life of the car I have paid off over 30% of the original balance, but with the new loan I only only down about 5%. Shouldnt that be taken into consideration?Stephen
Paramagic wrote:I do have about 80% utilized on a combined total over 2 credit cards. Other than that and 5 old student loans that were in default and a 3 year old judgement, I have nothing
I am trying to get the CC utlization down but I was just more concerned if the student loans were making it impossible to get above 700 even if I did everything else right.THanksStephen
youandme's post has been moved to add on to the other Please, everyone, if you're not responding to the original poster, start your own thread. thanks!