by 
Anonymous
ANSWERS: 1
-
Well, I'm not sure I understand your question exactly. But from what I gather, you want to know how to have your loan re-payments affect your credit report most favorably. In order for your payments to be reported to the 3 major credit bureaus (Experian, Equifax and Trans Union) you must make payments for a minimum of 6 months. After that, the longer you make on-time (or even better, early) payments, the better it will effect your credit score. There is one important thing to note, however. Even if you are making all your payments on time, future creditors will also take into account your income/debt ratio. Basically, this means if you have too much debt, and not enough income, that will negatively affect your score as well. Basically, just make your payments on time, and if you can pay off the loan early, do so.
RELATED QUESTIONS
Copyright 2023, Wired Ivy, LLC