Comments on: Do Student Loans Effect my Credit Score? http://www.reducecreditdebt.info/do-student-loans-effect-my-credit-score/ Mon, 01 Aug 2011 19:38:35 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: knitting bear http://www.reducecreditdebt.info/do-student-loans-effect-my-credit-score/comment-page-1/#comment-10932 knitting bear Tue, 20 Oct 2009 20:00:44 +0000 http://www.reducecreditdebt.info/do-student-loans-effect-my-credit-score/#comment-10932 Student loans on their own do not hurt your credit. Not paying on your student loans when they are due hurts your credit. As for looking for a credit card to improve your credit, go with a secured card. Check with your bank to see what their program is like. Most I have used require a deposit the size of the credit limit you want to have. As you make payments, they are reported to the credit bureaus. If you don't, it is just like a regular credit card and hurts your credit. Also, the payment & any fees from not making the payment come out of your secured account, reducing your credit limit, which is also reported to the credit bureaus. Personally, I opened a secured account at 5 banks within a month of each other. Used them to buy gas or lunch & paid them off every month in full. After 9 months, I closed one & got my money back. I continued this every 6-9 months after that until I had only one left. That one returned my deposit after 2 years & doubled my credit limit. I still only use it for gas or lunch & pay it off in full each month. Yeah, it takes time, but it works. Also, pay those pesky student loans off early if you can. Just because you have deferred payments does not mean you have deferred interest. You loans are growing day by day. Pay now instead of 5 years from now & you could save $1000's. Student loans on their own do not hurt your credit. Not paying on your student loans when they are due hurts your credit. As for looking for a credit card to improve your credit, go with a secured card. Check with your bank to see what their program is like. Most I have used require a deposit the size of the credit limit you want to have. As you make payments, they are reported to the credit bureaus. If you don’t, it is just like a regular credit card and hurts your credit. Also, the payment & any fees from not making the payment come out of your secured account, reducing your credit limit, which is also reported to the credit bureaus.

Personally, I opened a secured account at 5 banks within a month of each other. Used them to buy gas or lunch & paid them off every month in full. After 9 months, I closed one & got my money back. I continued this every 6-9 months after that until I had only one left. That one returned my deposit after 2 years & doubled my credit limit. I still only use it for gas or lunch & pay it off in full each month. Yeah, it takes time, but it works. Also, pay those pesky student loans off early if you can. Just because you have deferred payments does not mean you have deferred interest. You loans are growing day by day. Pay now instead of 5 years from now & you could save $1000′s.

]]> By: annhomes2003 http://www.reducecreditdebt.info/do-student-loans-effect-my-credit-score/comment-page-1/#comment-10933 annhomes2003 Tue, 20 Oct 2009 20:00:44 +0000 http://www.reducecreditdebt.info/do-student-loans-effect-my-credit-score/#comment-10933 Yes, for better or worse Yes, for better or worse

]]> By: Princess http://www.reducecreditdebt.info/do-student-loans-effect-my-credit-score/comment-page-1/#comment-10934 Princess Tue, 20 Oct 2009 20:00:44 +0000 http://www.reducecreditdebt.info/do-student-loans-effect-my-credit-score/#comment-10934 Yes, they can. I'm dealing with that right now. They will take it directly out of your paycheck, and they will also take your tax refunds, if you don't make payments. So, JUST PAY THEM OFF RIGHT AWAY!!!! That way, you keep your credit good, and you don't have to worry about anything. Even if it's hard, just make the payments. Yes, they can. I’m dealing with that right now. They will take it directly out of your paycheck, and they will also take your tax refunds, if you don’t make payments. So, JUST PAY THEM OFF RIGHT AWAY!!!! That way, you keep your credit good, and you don’t have to worry about anything. Even if it’s hard, just make the payments.

]]> By: I ♥ Richard KHC http://www.reducecreditdebt.info/do-student-loans-effect-my-credit-score/comment-page-1/#comment-10935 I ♥ Richard KHC Tue, 20 Oct 2009 20:00:44 +0000 http://www.reducecreditdebt.info/do-student-loans-effect-my-credit-score/#comment-10935 Having a student loan won't hurt your credit score, not paying it on time will hurt your credit score. You can apply for any kind of credit card to repair your credit if it is bad. But be careful applying for credit does hurt your credit score. just be careful credit can be dangerous. I started out with one credit card and before I learned my lesson I had 8 I have decent credit and I have a student loan as well as the 8 cards, you just have to make your payments Having a student loan won’t hurt your credit score, not paying it on time will hurt your credit score. You can apply for any kind of credit card to repair your credit if it is bad. But be careful applying for credit does hurt your credit score. just be careful credit can be dangerous. I started out with one credit card and before I learned my lesson I had 8 I have decent credit and I have a student loan as well as the 8 cards, you just have to make your payments

]]> By: Love Bug http://www.reducecreditdebt.info/do-student-loans-effect-my-credit-score/comment-page-1/#comment-10936 Love Bug Tue, 20 Oct 2009 20:00:44 +0000 http://www.reducecreditdebt.info/do-student-loans-effect-my-credit-score/#comment-10936 If your still currently in school and your keeping the banks informed of your status, it shouldn't effect your credit in a bad way. Have you been deferring your payments? Are they aware of your graduation date? Well, you should be in good standing so far. Credit Cards. Run from them. But you are the best candidate for one, they seem to target students anyway. Do you not see them on campus pushing the students to sign up? But usually Visa, Mastercard, etc...., If your still currently in school and your keeping the banks informed of your status, it shouldn’t effect your credit in a bad way. Have you been deferring your payments? Are they aware of your graduation date? Well, you should be in good standing so far.
Credit Cards. Run from them. But you are the best candidate for one, they seem to target students anyway. Do you not see them on campus pushing the students to sign up? But usually Visa, Mastercard, etc….,

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