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bonusbaby

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best for raising credit score, transfer balances or lender ie PROSPER?

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Loan should be more helpful

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If you want to raise your credit score, you need to demonstrate that you can pay down your debt over time. If you take out a personal loan with a lender, that can help you achieve this goal. You'll be making fixed monthly payments over 3-5 years until you completely pay off the loan. If you transfer balances to another card, you'll want to make sure you can pay off your credit card statement in full every month (not just the minimum payment), in order to build your credit score. In short, you can improve your credit score both ways, but the key is to pay the full monthly payments on time. It's just easier with a loan bc your payments are fixed every month and interest won't compound. Hope this helps.

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