Paying off an installment loan early is good for your wallet since you're saving money on interest. But this payoff may come with a cost.
Dear Liz: Two years ago, my husband was denied a revolving $12,000 line of credit. The credit reporting agency indicated that denial was based on "little revolving usage, insufficient or no bank lines, and insufficient open accounts with zero balances." Nine months ago, however, he was approved for a car loan and received a FICO Auto V2 Score of...Read more:Does Paying Off a No-interest Loan Early Help Credit Scores?
No comments:
Post a Comment