It can-
How much? It really depends on the rest of your credit profile.
I think mine dropped 15 points and I gained 10 back when the balance/to credit ratio (Installment utl) dropped under 100%.
Will the consolidation reduce your ARP/interest rate?
MarcusGraham wrote:
I am in the process of consolidating all of my student loans. I've been in repayment for approximately 1 year. Will the closing of these accounts and the opening of a new (consolidation) account drop my score? If so, by how much?
