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anytime you consolidate your bills or get a loan to pay them all off together it shows a down side- but if the clean sweep loan is cleared it will come off your credit history after 7 years from closeing the loan
try paying bigger chunks off one card to get interest rates down and cut the card-then start clearing another. you can also talk to the loan companies of your bills and see if they will cut you some slack or lower interst rates- some will match your payments to lower them.
of course don't be using more debt while your paying the others
What else can I help you with?
Why does paying off a loan hurt credit?
Paying off a loan can hurt credit because it reduces the diversity of credit accounts, which is a factor in determining credit scores. Additionally, closing a loan account can shorten the length of credit history, which can also impact credit scores negatively.
How does it affect your credit if you pay a personal loan off early?
It doesn't hurt your credit to pay off a loan early.
Does requesting multiple Credit reports affect a persons credit rating Shopping property loans for son and will co-sign. Is credit score affected if approaching various vendors for loan?
Credit inquires do hurt credit, but if it's for shopping around for the same type of loan it won't hurt as bad.
Does paying off a car loan hurt your credit score?
Paying off a car loan can potentially hurt your credit score because it may reduce the diversity of credit accounts you have, which can impact your credit mix. However, the impact on your credit score may vary depending on your overall credit history and other factors.
Does being denied a car loan lower your credit score?
yes, when you apply for an auto loan and get denied, it will hurt your credit. first, just applying for credit is a hard hit by 2 to 5 point lost.
Does an auto loan rewrite hurt your credit?
I think yes....the auto loan rewrite can hurt your credit
Why does paying off a loan hurt credit?
Paying off a loan can hurt credit because it reduces the diversity of credit accounts, which is a factor in determining credit scores. Additionally, closing a loan account can shorten the length of credit history, which can also impact credit scores negatively.
How does it affect your credit if you pay a personal loan off early?
It doesn't hurt your credit to pay off a loan early.
If you have a car returned to the bank will it hurt your husband's credit if he is not on the title or loan?
No
Does requesting multiple Credit reports affect a persons credit rating Shopping property loans for son and will co-sign. Is credit score affected if approaching various vendors for loan?
Credit inquires do hurt credit, but if it's for shopping around for the same type of loan it won't hurt as bad.
Does paying off a car loan hurt your credit score?
Paying off a car loan can potentially hurt your credit score because it may reduce the diversity of credit accounts you have, which can impact your credit mix. However, the impact on your credit score may vary depending on your overall credit history and other factors.
If you have paid on time and would like to get rid of your car will this hurt your credit?
will this hurt my credit?": only if the is a balance due after the lender sells it(likely) and you co-signed the loan.
I need a house loan, but how can I be approved with my bad credit score?
At the present getting loan with bad credit is hard. You will need to take some steps to clean up your credit first.
Would it hurt your credit if you took your car back that you still have a loan on?
Absolutely yes.
If you did not sign the promissory note but you did sign the deed of trust and if the property is foreclosed upon will it hurt your credit rating?
Anytime you default on a loan, it will hurt your credit. If there is no public record that you owe the money, it will not hurt you publicly.
Does being denied a car loan lower your credit score?
yes, when you apply for an auto loan and get denied, it will hurt your credit. first, just applying for credit is a hard hit by 2 to 5 point lost.
Why does paying off your car hurt your credit?
Paying off your car can hurt your credit because it reduces the variety of credit accounts you have, which can lower your credit score. Additionally, closing a loan account can decrease your credit mix, which is a factor in determining your creditworthiness.
