|
|
#1
11-04-2007, 06:00 PM
|
|||
|
|||
Question about credit and loans
Wanted some clarification as far as paying off student loans and what's better as far as long term credit. I thought I had read on here or heard from others that instead of paying off a loan in one lump sum (for say $15k) that it was better for your credit to pay it monthly to show that you are consistent and reliable. Which is better?
Also as far as getting approved for an apartment when you play poker for a living... how hard is this if you've been reporting your taxes? 
|
|
#2
11-04-2007, 09:56 PM
|
|||
|
|||
|
Re: Question about credit and loans
If you have coin, getting approved for an apt is not difficult. You may have to pay a bigger deposit, but you'll get in.
|
|
#3
11-05-2007, 07:24 AM
|
|||
|
|||
|
Re: Question about credit and loans
Ignoring opportunity cost (I find the people on here are obsessive about maximizing) then I say pay the loan. If the choice is between keeping the money in a savings account and making monthly payments vs making a lump sum payment then just pay it.
|
|
#4
11-05-2007, 10:41 AM
|
|||
|
|||
|
Re: Question about credit and loans
It will probably make very little difference overall. Not having any debt when you have a lot of available credit is good for your credit. Also, having some debt and paying it on time every month is good too. Mostly underwriters want to see that you have an extended credit history with no negatives.
|
|
#5
11-05-2007, 12:08 PM
|
|||
|
|||
|
Re: Question about credit and loans
Student loans dont help ur credit. But if u fail to pay/are late, they hurt ur FICO score. Pay them off slow if u have or will have any other debt. They are the cheapest credit u can get. Also, show a PT shot with hourly, quarterly tax recipts, and cash in Bank, ull be fine.
|
 |
|
|
Linear Mode
