We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Does Paying off a loan benefit your credit score ?

lja14
lja14 Posts: 10 Forumite
in Loans
Hi all

I have 2 more payments to make on a AA loan then im finished after 4 years, will this have a good impact on my credit score as im looking to apply for a credit card but may wait a few months.

Cheers

Comments

  • RichGold
    RichGold Posts: 1,244 Forumite
    1,000 Posts Combo Breaker
    Of course it will. Satisfied credit is the best type of credit from a lenders point of view.
    Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 352.5K Banking & Borrowing
  • 253.7K Reduce Debt & Boost Income
  • 454.5K Spending & Discounts
  • 245.5K Work, Benefits & Business
  • 601.4K Mortgages, Homes & Bills
  • 177.6K Life & Family
  • 259.4K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture