I have $26,000 in total debt. Now $25,000 of this money is from student loans and the remaining $1,000 is for my computer account. Now, I have never missed a payment on either of these accounts. Would this work in my favor because I am paying these accounts on time. Do companies look at this as a good sign? On my credit report with these 2 accounts I have a credit score of 710. Should I be in a rush to hurry up and pay these accounts or just keep them in the positive and never miss a payment?
Thanks for your time. Only adult and mature-minded comments and answers please........
2007-10-26 02:32:47 · 3 answers · asked by Anonymous in Business & Finance ➔ Credit
Since you said that. Whats installment credit?
2007-10-26 02:48:14 · update #1
As far as score is concerned, you are doing great.
You need to establish some installment credit other then your student loans, while they do count as far as score is concerned, they are not taken into consideration by lenders as real lines of credit when you apply for a loan.
Installment credit would be cars, homes, boats, furniture or personal loans.
2007-10-26 02:38:30 · answer #1 · answered by ? 7 · 4⤊ 0⤋
As far as 'maintaining your credit score with a good payment record, you are doing well. However, you may also be paying a very hefty fee on the 'computer account'. Check the interest rates of the two loans, and work to pay off the one with the highest interest rate first.
2007-10-26 10:07:05 · answer #2 · answered by acermill 7 · 1⤊ 0⤋
yeah u suck! hahaha hows that for mature?! skank!
2007-10-26 12:16:18 · answer #3 · answered by Yayyer!!! 2 · 0⤊ 1⤋