Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Credit Karma
Profile Image

Question By
Soldierlover

0 Contributions
0 People Helped
Need help with two loans
My motorcycle loan was paid off two weeks ago but still shows on here. How long until it's gone and will it bring my credit up? And my student loans were postponed because I restarted school but will that still stay on my credit or will it go away until I'm done with school? Just new to credits and lost some jobs that turned me down for my credit even though it's on the fair range

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Results 1-2 of 2Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
740 Contributions
796 People Helped
Most Helpful Response

Helpful to 1 out of 1 people

it will take atleast a month to show up maybe 2 depending on when its reported and when CK gets new info.....without knowing your report but you said your new to credit which probably means few accounts this will most likely bring your score DOWN because your paying off a long time loan....unless you had it for less then two years and it was a small loan @ $5,000 quick way to boost your score....take an extra $2,000 open a NEW savings account plus $85 for interest payments and take out a cash secured loan with the bank using that as collateral (banks love to do this because if you default they get there money back anyhow, but this way its fool proof) and then set it up to where the bank does autopay out of that account they take the 2k from the account and hold it you put the 2k they give you in the new account plus $85 and while this money will be frozen for 6 months you will be building credit after 6 months has passed you can pay the loan off in full if you want but you need to wait a minimum of 6 months then after the 6 months go for a quicksilver One (mastercard version) cash rewards card 1.5% cashback with a $39 annual fee so if you spend $2600 per year the cashback will pay the fee (in the form of a reward check back to you even though you technically have to pay $3 per month or lump $39) lowest score approved 563 average score approved 618 best to be 30+ points above the average which you should be

Top Contributor
3051 Contributions
2791 People Helped

Your student loans stay on your credit report for 7 years after the date they are paid off.

Results 1-2 of 2Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.