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krayonne
Member since: January 2009
Total Contributions: 2
Activity
(2 Total Contributions)Understanding Credit Scores
Any idea how a PLUS or other parental student loan affects your credit score? I ran a simulation of 10k in "personal" loans, and my score dropped from 775 to 757. Are educational loans scored any differently than personal loans? I would think 'personal' loans would take a bigger hit on your score than other types of loans. There is no option for an educational loan when running the simulations.
Comment posted 2 years ago
Top 5 Credit Misconceptions
My credit score is high 700s, and when I ran every positive simulation, one at a time, each one dropped my score by about 10 points, including paying bills on time for 24 months, paying off all credit, etc. The comments provided on my score were: not enough 'premium' cards, and too much available credit for mortgage balance. I have about 40k in credit card limits available to me, but only use a small percentage of that, and only ever will. So they want me to go get an AMEX Platinum and lower my credit limits on my other cards? Seems strange...
Comment posted 3 years ago
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