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 Scores
Profile Image

Question By
Appollo88

0 Contributions
0 People Helped
Pay off old student loan with half of my total late payments, but is very old.
I have an 18 year old student loan which I owe only $1 on. It is also half of my late payments. I am currently at 96% payments on time, should go to 98% if I pay it off. However, my average credit age is about 9 years, it will go down to 7 years or so.
So should I pay it off or keep it for a while until my other credit lines mature? What will help my score the most. I am currently at a 768 score.

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

View your scores and reports anytime.

SIGN UP NOW
All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
7363 Contributions
3809 People Helped

Student loans should bepaid in full as quickly as possible.  Since only you have access to your credit information, there is no way any of us could calculate exactly how much your score will improve once this loan is paid. Once the negatives drop off, your score will raise, as is explained in the articles on this site.

Result 1-1 of 1Results 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.