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re: Paid off my last car loan in full
Posted on 7/18/14 at 11:48 am to The Spleen
Posted on 7/18/14 at 11:48 am to The Spleen
quote:
Even when my credit score was in the 600's, I didn't have much problem getting credit, just not the best interest rates.
This is why it is most significant for home financing - because of the length of the loan, small blips in the APR results in major expenses.
As Dave Ramsey says - a good credit score is the result of good money practices, not the goal.
1
Posted on 7/18/14 at 12:48 pm to Ace Midnight
So to keep the average age of my open accounts from dropping, should I leave like $1 in my student loan account and let it just accumulate interest and keep the account open? I have about $1300 left to pay off, well ahead of schedule, and the age of the loan is about 10 years since I first took out a loan in 2004.
Maybe just do that until I secure financing for my next mortgage when I look to build in a few years?
Maybe just do that until I secure financing for my next mortgage when I look to build in a few years?
This post was edited on 7/18/14 at 12:49 pm
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