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Posted in Student Loans
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marieg33

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will consoildating improve my credit score
i have two seperate loan. and wanted to help improve my credit score. as much of what is causing my credit score to be bad is my student loans

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I'm not sure why your student loans are the ones hurting your score. You gave too little information to give you a good answer. If student loans are the only items on your report than it's the lack of open revolving accounts (lines of credit and credit cards). 

Loans alone are not bad. Credit cards are better to improve your credit score because you use it and pay it on a regular basis. Student loans you get once and only pay them. Hopefully always on time. If you were at any point 30 or more days late, yes thats why they hurt your score.

If you don't have a credit card, get one. Either pre-paid or fill out an application you find at the gas station. Pay it always in full and try not to use it for more than 30% of the available credit line.

Maybe apply for a $500 line of credit for overdraft protection with your bank. DON'T RELY ON IT. This is a saftey net and should only be used on accident because the bank will charge a fee ech time you use it aside from a huge interest rate.

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