answersLogoWhite

0

Here is an excellent guide to outline how loans might affect your credit score. http://www.moneysavingexpert.com/loans/credit-rating-credit-score It also offers a Credit Checker tool which could prove very useful.

User Avatar

Wiki User

10y ago

What else can I help you with?

Related Questions

How do online loans affect credit scores?

Any loan will affect one's credit score. It will impact regardless of how the loan is received. Information can be found on various websites to calculate.


Does Italy have credit scores?

Yes, Italy does have credit scores. These scores are used by financial institutions to assess an individual's creditworthiness when applying for loans or credit cards.


When two people get married does there credit score become one?

No. Your credit score is always your own. Your spouse's credit does not affect yours (and vice-versa) unless you apply for credit jointly. However, even if you are extended credit jointly, any late payments or defaulted loans appear on each of your credit scores, and affects your credit scores individually.


Do subsidized loans affect credit?

Subsidized loans will affect your credit score negatively if you are not paying them. If you are paying them, they will have a positive effect on your score.


Who are the main users of credit card scores?

Credit card scores are used by many companies involved in the financial sector. These involve companies that give loans which use credit scores to assess whether you qualify for a loan.


Why do credit scores matter?

If your credit score is low, it can affect you renting a home, getting loans, or even getting a job. usually having many credit cards, or having credit card debt, can make you have low score. xD SWAG


What are some of the highest rating companies that offer loans for people with bad credit?

It may not always be easy to find a company which offers loans to people with bad credit scores. However, it is not impossible. Mortgage Credit Problems, E-Loan and Ameriquest Mortgage Co. offer loans to people with bad credit scores and have received good customer feedback.


Do instant loans negatively affect credit?

Credit scores are effected by many factors. One of the factors is how much debt you have in comparison to your income ratio. A high volume of debt, perhaps from an instant loan, when you have a low income, will negatively impact your credit.


What is the relationship between credit and loans?

Yes, your credit score does affect the loans you are able to receive. The better your credit score, the better of an interest rate you will get.


How does my poor credit and or bankruptcy affect my children getting student loans?

It does not affect them.


What information is needed to calculate credit score?

Credit scores use information from three key areas of your credit report: account information (such as credit cards, auto loans, student loans, mortgages and rent), public records (such as tax liens or bankruptcies) and inquiries (requests by lenders to view your credit). Information such as race, gender, where you live and marital status are not used in credit scores.


How can payday loans affect your credit score?

Payday loans can be use to affect your credit score positively, but this must be done carefully and other types of loans may be better for long term rehabilitation of your credit score. However, payday loans can also affect your score negatively if you consistently use them and don't get out of debt entirely, as being in debt affects your credit score (and not making progress getting out of it).