PinchingPennies

Saving money to pay off student loans and consumer debt

Free FICO Score From Equifax

Want to know your FICO score? Equifax will tell the first 10,000 people who ask, free!

http://www.equifax.com/freeficoscore/

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October 2, 2008 Posted by | credit score | , | Leave a comment

Too Many Installment Accounts Lowering Credit Score

The credit score sites have a wizard that attempts to tell the customer what is lowering their credit score. The big one on mine appears to be my student loans. For some reason my student loans were broken up into 10 installment accounts. Different kinds of loans I guess, but still. I’ve been paying them off using the Dave Ramsey method of paying the smallest ones first but I still have 7 loans. Now, I don’t really need a higher credit score right now but if I did, I would either have to pay off some more of those loans or consolidate. The last time I looked into consolidation, it looked like some of the benefits of student loans would be erased, such as the ability to easily defer and loan forgiveness in case of death or permanent disability.

I should look into consolidation again.

August 22, 2008 Posted by | credit score, Student Loans | , | Leave a comment

Paid In Full Student Loan Letters

Yesterday I got my paid-in-full letter from the student loan I paid off about a month ago. It filled me with gooey happiness to have the letter stating that I have one less loan.

In other news, I checked my credit score and the score calculator said my score is lower because I have too many installment accounts on my credit report. The only installment accounts I have are my student loans but I had 7 of them. Now I have 6. Don’t know if this will raise my credit score but I’ll check and report back.

July 8, 2008 Posted by | credit score, Student Loans | , | 1 Comment

Husband’s Credit Score Went Up 12 Points

Time to go yacht shopping. lol

The only change to his credit report, I think, is the payoff on the AMEX card. It lowered his utilization which on his revolving accounts was pretty high. He has a couple of old dings that I am researching on the Credit Board forums. I am pretty sure I can get those off with a little work. Not that it really matters, we don’t plan on taking out any loans or opening any cards. We are just being prepared.

June 26, 2008 Posted by | Credit, Credit Cards | , , | Leave a comment