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Student loans

Birdman7
Super Contributor

Re: Student loans

Keep in mind when you pay it down, some loans bring the maturity date forward, and remember when the loan closes, you will lose the boost that you get.

So find out if it’s gonna bring the maturity date forward and if so strategically time your score boost.

I don’t know how forbearance affects scoring.
-Scoring wisdom: Credit Scoring Primer, Payment History, Amount of Debt, Length of History/New Credit, Mix/Disputes/Freezes/Searches, Mortgage Scores/Negative Reason Codes/V.9, Helpful Links,
Anonymous’s Reason Statements Thread,
iv's friendly statement to reason statement concordance,

ccquest’s Workbook to calculate metrics.
Clean/Thick/Mature/No New Revolver - 8,9; Clean/Thick/Mature/No New Account - 5/4/2.
Correct Ag.Util. under 5% all times. (Oldest/avg varies. Estimates above.)
Real world mortgage maxes are: EQ5-818, TU4-839, EX2-844.




(Everything said is JMHO and is not endorsed by FICO or MF. I have no affiliation with either, just a grateful member.)
Message 11 of 12
Birdman7
Super Contributor

Re: Student loans


@Tylerray0722 wrote:

Thanks. I'll be sure to check out the link in your signature. I'll be sure to drop it down to 9% now then. I checked it out again on CK and came across this which seems to be because 2 remarks were removed from my account but I have no no idea what a remark it so I might have to research more about it. https://i.imgur.com/40qtgTn.png 


Hit the plus mark and it will open it up and tell you about the remark. it looks like an old chargeoff updated and that probably caused the score loss.

-Scoring wisdom: Credit Scoring Primer, Payment History, Amount of Debt, Length of History/New Credit, Mix/Disputes/Freezes/Searches, Mortgage Scores/Negative Reason Codes/V.9, Helpful Links,
Anonymous’s Reason Statements Thread,
iv's friendly statement to reason statement concordance,

ccquest’s Workbook to calculate metrics.
Clean/Thick/Mature/No New Revolver - 8,9; Clean/Thick/Mature/No New Account - 5/4/2.
Correct Ag.Util. under 5% all times. (Oldest/avg varies. Estimates above.)
Real world mortgage maxes are: EQ5-818, TU4-839, EX2-844.




(Everything said is JMHO and is not endorsed by FICO or MF. I have no affiliation with either, just a grateful member.)
Message 12 of 12
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