New Contributor
SMikulski49
Posts: 52
Registered: ‎03-09-2009
Re: Private student loan - Revolving account or installment loan?

Sorry for posting on both threads, I wrote the other one and then realized that the second part of my questions is more loans related so i posted it here as i thought i would get more responses.

 

I will give my credit union a call and ask them, last time i checked my credit report i didn't notice it showing up like that. My transunion report does not even show this loan on the report. 

 

Having this report as revolving account do they think its a credit card or something? i mean i am using 6K out of 75K available so i would see how this can go under revolving accounts. 

 

I dont mind cz my credit score is getting higher and higher every time i check it, i am just curious if she pays off the loan off will that be like closing a credit card? and that in fact would lower my credit score?  

 

just curious how it all works hehe

 

thanks for all your comments guys, id be lost with out you :smileyhappy:


Starting Score: TU-775; EQ-799; EX-766
Current Score: TU-775; EQ-828; EX-828
Goal Score: TU-800+; EQ-850; EX-850


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