@bsal wrote:
Hey guys I have a serious question at hand, i'm new in trying to rebuild my credit, i'm in the market for a new house and i'm trying to save as much money as posable. I know when they say in having good credit you have to have as many trade-lines open and in good standings as much as posable , i wanted to know would it wise for me to keep my student loan open and continue paying it monthly witch its only a 900 dollar balance left to show open trade-ins, or can i pay it off in full without having a drop in my credit score, since i only have my car loan on my creidt report showing as paying on time, i also have a 200 dollar maycs credit card but it has a zero balance cause i dont use it, and i also have a credit overdraft protection from my credit union navy fed. should i keep payin my monthly school loan and keeping that trade line open , or can i pay it off in full and have it not affect my credit score, witch is 698 transunion and 714 equfax . another thing i just got this car loan and i been paying on time since june 09
If you pay it off, your score will get a bump for having it paid off. This will remain on your reports for another7 years at minimum, but likely...more like 10+.
Paying it off now won't hurt you in the least. Did you ever have lates??
Well, I would think that an open CC or "4", in good standing is definitely a positive for your score. A PIF loan, in good standing is also a good thing.
An open loan is not considered the same as an open CC in FICO terms. In fact, it may even look better if posted as paid early. For instance, you have a 10k car loan. Open in June 06 for a term of 4 years. If you paid that off now, that just shows that you are very responsible and paid this loan 1 year early. Nothing wrong with paying in the alloted 4, but paid in 3 is better.
A cc is an open line....no real "end" to payments. See what I mean? But even with a cc, a $0 or <5% balance always looks better than a 75% balance. Means you use it responsibly, and pay it off in full (or close to it) as you should. It's never beneficial to your FICO to carry a large balance % on a revolving debt.
This obviously does not involve or include any mortgage balances in my loan scenerio....
*Wonderin beat me to it!!! 
Just another quick addition. If your school loan is with Sallie Mae or the US Dep of ED....Pay it off! If anything should happen & you miss a payment, they are 99.999999% cold & unforgiving. Don't invite trouble.
Also....what kind of FICO's do you have? We might be able to make suggestions on a cc that might help your file look a little more diversified.
If you're with Navy Fed & have scores like that...get a CC with them! I've heard lots of good things about them! And the big plus for you is that you're already established with them & they know your history!
You're as good as IN! 
@bsal wrote:
lol my thing is i'm not sure if i really want a creidt card tho, i hear so many stories about people being in cc debt, i dont ever want to be in debt
Just because you have a cc, that doesn't mean you're going to be "in debt". Use it now & then for a tank of gas, then PIF. Let it post a $40 balance on the fill up now & then...and then pay it off.
It's not the card that gets anyone in debt. It's how it's utilized.
I use a couple of mine for $$ or points. I get Staples gift cards w/the points & that pays for my printer ink!!! The other gives me $$ back toward my gas.
Make those cards be the slave to YOU! Not the other way around.