Loan for stocks

[MarineVietVet]

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@Anonymous wrote:

But shouldn't my score go up after about a year of paying my bills on time?

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The 90 day late more than offsets a year of on time payments.

From a BK years ago to:
9/09 EX pulled by lender 802
3/10 EQ- 800
4/10 TU -772

You can do the same thing with hard work

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[marty56]

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marinevietvet wrote:

That 1 year old 90 day late is a real score killer IMO and will remain so for quite some time. How long? You'll get different opinions about that but a 90 day late is considered a major derogatory.

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IMHO in my case it will be a major factor for the full 7 year ride so I would assume for the OP as well.

I would not have taken the loan out to buy any stock at any interest rate.  Especially if I had any debt.  Since you already took the loan out, I would say that the effect on your score is a mute point and the benefit you receive (hopefully) from the stock purchase will outway an hit on your FICO score.

I always say don't be FICO score poor.