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mrhappytobefree

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What if I payed more on my personal loan? How would that effect my score?
It is a three year loan, if paid by the schedule. I have extra cash to pay it off sooner, but need to increase my credit history.

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Paying off a loan and closing it will usually result in a score DECREASE, even though it may save you some money. If you are worried more about your credit scores rather than saving money on interest, then the best move you can make is to pay the loan down, but not off.

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How long does it affect your score negativly when you pay off a loan early?

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