@Anonymous wrote:wrote:
I’m not sure how much I would believe this one. I pay 400 bucks every month on mine and haven’t seen any increase as a result. Perhaps if you paying something would take the utilization across a threshold then perhaps it would give you a bump. I’ve found the simulators useful, but they are not always correct.
Let us us know if this works out for you
Yes. I am pretty skeptical but maybe your Payment is a part of your score already. I haven't touch my student loans in years. I' always figured, 'they can wait'... so maybe a small payment would spark some FICO fire. We shall see. It was only $20 bucks. if it doesn't work Ill go back my original plan of paying them last. Well even if it does work, I am still doing that since 15 points is basically my max gain.
I let you all know. Luckily they report to agencies next week so our wait won't be long.
This may very well be the case. I started back paying on mine over a year ago now. I wasn’t really paying any attention to my scores since I had just completed my bk 13 repayment plan and figured my scores where hopeless, so perhaps I did get a bump on my first payment and don’t know about it. The simulators does now tell me I would have to pay it down by 20k to see a bump
Okay, I may need to change my sceptism a little. I had forgotten that my wife had signed us up for an experian free account last year, so I have history going back to before my bk13 discharged. I can’t say for sure if it was just the bk being discharged or that I started paying back the Student loans, but I did get several nice bumps during last summer a couple of ones in the teens and a 40 point bump.
so hopefully you will see a bump. I’m wondering if you may lose it unless you start making regular payments, which may be a good idea too. I’ve got one that I kept in deference for way to long and now I have more interest in my balance than I originally borrowed.
I wish you the best of luck. I would definitely keep a check on the student loan site and make sure you don't bring it out of deferment if you don't make a payment next month. A late would definitely kill off any gain you may get as a result and most likely send your scores lower.