No credit adult sex chat room - Effects of consolidating student loans

I'll say again that I think you should almost never hesitate to pay down student loans early because it might impact your credit.I certainly won't bat an eyelash when I have that opportunity because I believe a potential impact on my credit score will be outweighed by saved interest and the satisfaction of fully paying off my student loans.The second is that while the FICO score is the most common "credit score," different lenders may use other scores or even have their own models to check credit.

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I can't speak for every situation, but I would think those savings are worth whatever impact on your credit score that removing loans from your credit diversity might have.

And consider what you're preserving a credit score for in the first place.

In fact, I'd go as far as to say that concern for your credit score should almost never prevent you from paying off your loans early, and paying early is likely to improve your score in some cases.

I think it is worth taking a minute to explain a little about credit scores in general.

You shouldn't categorically avoid taking any action because it may lower your credit score.

In fact, if you did, you'd never apply for any kind of credit due to the adverse (and mostly negligible) effect of a hard credit check, and the score would be useless to you anyway.

I refer you back to my wild Saturday night where I stumbled across something from the FICO Banking Analytics blog.

The people who calculate the most widely used credit score write "I'd like to set the record straight on exactly how student loan debt is factored into the FICO® Score." "A student loan receives no special treatment by the FICO® Score; it is treated like any other installment loan." Oh...

I suppose there could be corner cases where paying a little extra on your student loans for one month could help you get a lower mortgage rate, but that's a pretty specific niche.

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