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It doesn't hurt your credit to pay off a loan early.

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โˆ™ 2006-04-01 20:58:49
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Q: How does it affect your credit if you pay a personal loan off early?
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Related questions

How does personal credit affect your chances of getting a small business loan?

Probably greatly. I'm sure if your personal credit is not good, that will also influence lenders on their decision to give you a small businees loan or not.

Will having a joint bank account with someone who is behind on their personal loan affect your own ability to get a personal loan?

No. Credit history pertains to the individual. With the exception of joint accounts such as credit cards, not bank accounts.

How does deferring a student loan affect credit rating?

Generally a student loan does not affect your credit rating

have poor credit need 5k personal loan where do i go?

have poor credit need 5k personal loan where do i go

Do personal debts of family members affect credit ratings?

No, if it is a personal loan. Still, think of it this way, a poor credit rating with your family could be worse (you know what I mean).

Can you get a personal loan without a cosigner?

It all depends on your personal credit history. If you have a bad credit history or no established credit then it can be difficult to get a loan. Anyone can get a payday loan but it is not recommended as the interest rates are outrageous. Contact your local bank for more information on how to get a personal loan.

How does bad debt affect your chances of getting a loan?

A bad debt can affect your chances of getting a major loan such as a house loan. Bad debts lower personal credit ratings and banks are opt to reject loan applications because of this.

If you default on your pay day loan will that affect your credit?

Yes, if you default on any loan it will affect your credit rating negatively.

How can one get an aeasy personal loan?

One can get a easy personal loan by having excellent credit. Excellent credit allows banks to trust you and they know you will pay them back, so have good credit to get a loan.

Is a credit card a loan?

Yes a credit card is a loan but remember the interest rate on these can be quite high comparing to a personal loan.

How can you check your credit in order to obtain a personal loan?

You can check your credit to obtain a personal loan by applying for a credit check online. In most cases, the loaning company you request from will provide the credit check for you.

When a auto loan personal loan and credit card loan are combined what is it called?

That is called a ACP Loan

Pay a personal loan off with a credit card?

All you can know about personal loan from this site. It will help you a lot as it helped me.

Can business credit card debt affect my personal credit card balance?

A business credit card debt can affect someone's personal credit card rating. A credit report for an individual is processed by activity of one's overall credit. This means that having debt for a business credit card can hurt a person's chances of receiving lower interest for a home finance loan.

Where can you get a personal loan with a 577 credit score?

You can get a personal loan with a 577 credit score at places such as Rise. The associate percentage rates are often high, however.

Where can one get personal loan for bad credit in the UK?

One can get personal loan for bad credit in the UK from many different loan givers. Some of the loan givers are Blemain Finance, Spring Finance and Aspire Money.

How does cosigning for a car loan affect your credit?


Will co-signing a student loan harm your personal credit?

It will if the primary borrower does not keep the terms of the agreement. It will also affect the person's credit score such as the income-to-debt-to- credit ratio.

What is the difference between car loan and personal unsecured loan?

A car loan is a secured loan. If you don't pay the car loan, the lender can repossess the car. A personal loan is a loan based on your credit worthiness as judged by credit reporting agencies like Equifax. This "credit rating" is usually based on a FICO score, which views a variety of factors such as credit experience, lines of credit outstanding and payment history with other companies.

Can you obtain a business loan after personal bankruptcy?

A personal bankruptcy can remain on your credit history for up to 10 years, which can make it difficult to get a business loan; however, if your business credit is established as a completely separate entity from your personal credit, you may increase your likelihood of getting a business loan.

How does defaulting on a car loan affect your future credit?

Any default on any loan will damage your credit in the future.

How do I get a personal loan for people with bad credit?

BadCreditLoans provides an easy and convenient way for people to be matched with a personal loan from up to $5,000.

Will having a credit card with a high limit affect your ability to get a loan?

if you obtain a credit card with a high limit it will not affect your credit as long as the card is in good standings .. however if the card is maxed out it could affect your credit score wich will intern stop you from getting a loan. although it may not stop you from getting your loan but it will affect your interst rates

Your husband defaulted on his vehicle loan How will it affect your credit report?

if you co-signed on the loan then your credit will be impacted negativly just as his

Is loan account real nominal or personal?

Loan account is a personal account in nature so increase with debit and decrease with credit.