Good TL Student Loans....pay them off or are/will they help?
I have 2 student loans totalling just under $8,000. I have to start paying on them in January, and they are currently reporting as "pays as agreed". My question is, I have a very unique opportunity to pay these off in February...completely, or atleast very close to completely. Should I? 1 has an interest rate of 3.5% and the other 6.5%. The approximate monthly cost will be $80 which is terribly easy for me to afford. So, I don't believe these count toward my utilization...correct me if I am wrong. Will paying them off do anything other than relieve me of the debt/monthly payment or will keeping them open a few years first prove tasty to my credit score?
Re: Good TL Student Loans....pay them off or are/will they help?
I'd pay them off if it were me. No chance of anything going wrong and no interest.
Starting Score: 504 July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013 Goal Score: All Scores 760+, Newest goal 800+ Take the myFICO Fitness Challenge Current scores after adding $81K in CLs and 2 new cars since July 2013 EQ:809 TU 777 EX 790 Now it's just garden time!
June 2017 update: All scores over 820, just pure gardening now.