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Debt Consolidation Forums Credit Repair, Credit Score and Credit Report forums

Should I repay the loan early in order to raise my score?

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I have a car loan. I have taken out a car loan from a lender in Das Palos. The loan amount is $15,000. The monthly payment amount is $450. I wish to build my credit gradually. However, I don’t have any intention to pay high interest rate on the loan. Should I repay the loan early in order to raise my score?




By all means pay down the loan quickly however paying down the loan quickly is not going to significantly raise your score.


Sub: #1 posted on Fri, 05/10/2013 - 05:26

SOAPLADY SOAPLADY
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(Posts: 17319 | Credits: )

What raises your score is timely payments over a period of time. You could double up the amount you pay monthly and save interest that way.


Sub: #2 posted on Fri, 05/10/2013 - 16:31

aubrey aubrey
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