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Question By
idevo73

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Loan for consolidating bills
Is it a good idea to ask my bank for loan so I can consolidate all and have one payment only. Will score increase dramatically? Or not good idea right now ?

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Any time you open a new account/loan, your score drops at first, but increases in the following months as you make your ontime payments.  Closing out any "good" accounts will also hurt your score, because you'll lose that line of credit and the history.  Can't say if this is right for you or not, since nobody can see your personal info.  Visit www.credit.about.com and read articles related to consolidation loans.  Best of luck!

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