stevie-a
Yeah boyeeeee!
Bumping this for a quick question if anybody has advice. I have very nearly paid off my student loans (have like 500 bucks left), and I could very easily knock them out right now. However, I've heard talk of folks' credit score bumping down after paying down student loans due to it reducing the variety of credit types on your report. This sounds like something that might happen for me, as I don't have a car payment and I don't have a mortgage - just rent, utility bills, and credit cards outside of this loan account.
Tips? Should I just knock the thing out and not worry about it, or could it have a negative effect?
Wanna double dip? If you plan on paying the student loan off anyway, use a credit card (preferably one that has points, rewards, or cash back incentives) to pay the student loan off and then turn around and pay the credit card balance down/off.