@Anonymous wrote:
I have student loan debt. I can consolidate them all into 1 loan. But is it better to get 1 large loan, or just keep multiple small loans for my credit/ fico score? The loans I have are all opened at the same time as well. Repaying them as 1 large loan or multiple small loans does not make a difference to me. But which would be viewed better?
Generally - multiple small loans. The math will help you in the long run with regards to account age metric (getting a new credit card will have a smaller hit). If you get any lates, though, it could get ugly.
If I had a choice, I would stick to multiple loans.
Happy practitioner of AZE7or8or9or10 | Team Finances > FICO
