Comments on: Mixture of Credit – 10% of Your Credit Score – Episode #84 http://www.videocreditscore.com/mixture-of-credit/ Tue, 24 Jan 2012 18:29:53 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Matthew http://www.videocreditscore.com/mixture-of-credit/#comment-1591 Matthew Thu, 25 Aug 2011 17:29:44 +0000 http://www.videocreditscore.com/?p=813#comment-1591 For student loan In your video: Mixture of Credit – 10% of Your Credit Score – Episode #84, you make the below comment: "Get the normal type car loan. Make sure you do not have a pre-payment penalty. Lets say it is a 36 month term loan." You recommend paying off the loan in 6 months. Should I use the same strategy for a student loan, which is considered an Installment Loan as well? Currently I have XX dollars owed in student loans. I have paid off approximately 25% of principal of the loan over the past 4 and 1/2 years (approximately 58 months). If I have the money available now to put toward the loan, should I just pay it off in full? Should I pay 99% of what is left off, leaving a few dollars to pay off over the duration of the next few years? What would help my credit standing more? For student loan

In your video: Mixture of Credit – 10% of Your Credit Score – Episode #84, you make the below comment:
“Get the normal type car loan. Make sure you do not have a pre-payment penalty. Lets say it is a 36 month term loan.”

You recommend paying off the loan in 6 months.

Should I use the same strategy for a student loan, which is considered an Installment Loan as well? Currently I have XX dollars owed in student loans. I have paid off approximately 25% of principal of the loan over the past 4 and 1/2 years (approximately 58 months).

If I have the money available now to put toward the loan, should I just pay it off in full? Should I pay 99% of what is left off, leaving a few dollars to pay off over the duration of the next few years? What would help my credit standing more?

]]> By: awjolls http://www.videocreditscore.com/mixture-of-credit/#comment-649 awjolls Thu, 19 Mar 2009 15:57:16 +0000 http://www.videocreditscore.com/?p=813#comment-649 A small personal loan will be an installment loan and the mixture of credit on your file will help. Always good to ask the credit union rep to verify before you take action. Also, read my post on how Expats build credit at www.videocreditscore.com/expats-and-credit-scores/. It's great for US residents too. A small personal loan will be an installment loan and the mixture of credit on your file will help. Always good to ask the credit union rep to verify before you take action. Also, read my post on how Expats build credit at http://www.videocreditscore.com/expats-and-credit-scores/. It’s great for US residents too.

]]> By: kevin http://www.videocreditscore.com/mixture-of-credit/#comment-647 kevin Thu, 19 Mar 2009 00:20:54 +0000 http://www.videocreditscore.com/?p=813#comment-647 Very helpful. So, my wife and I have a joint account at a credit union, and part of the package is a LOC (currently unused). If I take out a small loan and schedule automatic payments for six months, then it should help both our scores? Would it be installment or revolving if I borrowed a small amount and reloaded every couple of months? Very helpful.

So, my wife and I have a joint account at a credit union, and part of the package is a LOC (currently unused). If I take out a small loan and schedule automatic payments for six months, then it should help both our scores? Would it be installment or revolving if I borrowed a small amount and reloaded every couple of months?

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