July 16th 2010 09:59 am
Education loans… How will it affect my credit?
I am looking to apply for 4 different education loans. How will these 4 loan inquiries affect my credit? I know education debt doesn’t look as bad as credit card debt. What should my credit report expect after these 4 inquiries?
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Tags: Credit Card Debt, credit report, education debt, education loans, loan inquiries
3 Comments »
Jelena on 16 Jul 2010 at 10:00 am #
one link with all answers i wonder why
http://www.flixya.com/blog/GOLDCash360/1/Loans
Uh huh, go on I'm listening on 16 Jul 2010 at 10:00 am #
If you apply for all of them at once, say all within the same month, it will not do much to your credit. Now if you apply for one now, one next month, then another the following month, etc… All those inquiries will add up negatively on your score.
Similar to applying for an auto loan, if you apply with different dealerships right away, no big effect on your credit, but leave a bunch of time frame gaps and oh yeah, it will hurt your credit.
David S on 16 Jul 2010 at 10:00 am #
Wow, my friend eduction debt has the same effect and more in your credit rate.
it does not disappear from your credit for life, even if you file for bankrupt
you still have to pay it.
they will take it from your social security benefit even.
you will very surprise.
your inquires for these debt will be in your record for 2 yrs.