Does a student loan and a bank loan affect your credit the same way? and Ashley Loan - Amanda Huddle - LA Half Marathon

Does a student loan and a bank loan affect your credit the same way?

I have one credit card ( revolving credit ) and I have one student loan ( fixed monthly payments ). I want to keep one revolving account and one fixed account. Would a bank loan that pays off the student loan look better as a fixed loan? I guess my question is: Do they both count as fixed loans or is the bank loan a more "authentic" fixed loan?


loan best answer:

Answer by CreditAlignment.com
doesnt matter....they're both 'installment' loans on your credit report. i wouldnt take a bank loan because MOST LIKELY the interest isnt tax deductible like the student loan.

i would advise to have 2-3 credits...2 installment loans....can be student loan, auto loan or other loan...and a MORTGAGE!
make sure you keep low balances are on revolving accounts...and you should be go to go.

loan

Ashley Loan - Amanda Huddle - LA Half Marathon


Image by planetc1
1383 - Ashley Loan of Denver, CO
1059 - Amanda Huddle of Los Angeles, CA

2012 Los Angeles Half Marathon (13.1 miles) passing through Ocean Avenue in Venice, CA.

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