How to pay off student loan

BelknapPoint
Tue, 14 Jul 2020 13:47:23 +0000

It’s been a number of years since I was in the weeds of the credit score systems (and there are many more than the three main ones), but the programs we used did give points for things like savings accounts and checking accounts. Not for the amount in them, but just the fact that you had the accounts. Creditors like people who are in main stream banking. Maybe all the systems didn’t care about deposit accounts, but ours did and we had a lot of ‘unbanked’ borrowers. There were also more points for some types of loans (car, mortgage) and some loans (like 90 days same as cash) were not so great for your score. You know the companies that let you split the payment into 4 payments like QVC? Not a “good” loan.

Eeyore 123 is right. Checking and savings accounts have no impact on credit scores or credit reports.