Loan Payment

[BudCle]

I have a student loan for $500. Would it be useful for me to just pay it off in whole or make payments until it is paid off. I am looking at helping my credit score out.

 

Thanks,

[Cheech]

Your FICO score depends on many variables, so whether or not you'll see a score increase depends on what else is in your credit file. Generally speaking though, paying an installment loan on time and demonstrating a positive payment history is a good thing. If it were me, I'd at least pay it off over a 6-12 month period to demonstrate a good payment history.

[BudCle]

I have good credit I was just wondering if I paid it off would it effect me neg. compared to making payments which I know would help me...