No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
Hope everyone is doing good tonight!
I have a question about my credit score. I have 3 student loans and I know that fico takes into consideration the amount of the loan you took out originally to the amount of the balance remaining. So I have looked to see that if I paid on the loan if it would raise my score even while in deferment. Does anyone really know the answer to this? I actually paid $150 on my loan and on credit karma it says my score went up 5 pts and it shows the only change was that my loan balance just reported as decreased by 7%. I'm not sure if that is definitive for why my score increased. Any input from anyone? The loan is roughly 2 years old, but like I said it is still in deferment while I am still in school. I'm done in the spring so long as they don't delay us anymore due to covid.
Credit Karma is a Vantage score which doesn't really correlate with a FICO score at all and based on the primer thread I think the main tiers for points on installment loan balances are around 9% and 65% so if you aren't near those, I don't think it matters much.
SLs don’t really affect you scores much unless they have missed payments.
My wife’s scores are in the 800s with TONS of student load debt (in forgiveness program)
Pay them if you have no other debt and you want to.
GL!
DON'T WORK FOR CREDIT CARDS ... MAKE CREDIT CARDS WORK FOR YOU!
Thanks @Shooting-For-800 ! Seriously great to know!
i have 40,000 in student loans, but my scores are not 800.
@Shooting-For-800 wrote:SLs don’t really affect you scores much unless they have missed payments.
My wife’s scores are in the 800s with TONS of student load debt (in forgiveness program)
Pay them if you have no other debt and you want to.
GL!
@Anonymous wrote:i have 40,000 in student loans, but my scores are not 800.
@Shooting-For-800 wrote:SLs don’t really affect you scores much unless they have missed payments.
My wife’s scores are in the 800s with TONS of student load debt (in forgiveness program)
Pay them if you have no other debt and you want to.
GL!
Another anecdote for you, I have $130k and my score peaked at 818 before a bunch of new accounts recently.
thank you, my dream is get to 800.
@ccquest wrote:
@Anonymous wrote:i have 40,000 in student loans, but my scores are not 800.
@Shooting-For-800 wrote:SLs don’t really affect you scores much unless they have missed payments.
My wife’s scores are in the 800s with TONS of student load debt (in forgiveness program)
Pay them if you have no other debt and you want to.
GL!
Another anecdote for you, I have $130k and my score peaked at 818 before a bunch of new accounts recently.