Member
LookingToImproveFICO
Posts: 8
Registered: ‎08-27-2012
Re: Consolidate loans to reduce number of installment accounts on credit report?

So I guess the general consensus is...

 

1) Don't consolidate your student loans unless you're actually able to lower your interest rate, thereby saving you actual money, AND

 

2) Reducing the number in installment loans may actually adversely affect your FICO score.