You have now finished school and are looking toward building a credit score. How does your student loan affect your credit?

One of the first things to know is that the credit score used by most lenders divides loans into two categories. They are installment loans and revolving loans. Examples of an installment loan would be a car or home loan and yes, the student loan. This is because you pay a fixed amount every month. Credit card make up the majority of revolving loans where you control your monthly payment.

This is a preview of: How do student loans affect credit ratings?(251 words, estimated 1:00 mins reading time)
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You have now finished school and are looking toward building a credit score. How does your student loan affect your credit?<\/p>\n\n\t

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One of the first things to know is that the credit score used by most lenders divides loans into two categories. They are installment loans and revolving loans. Examples of an installment loan would be a car or home loan and yes, the student loan. This is because you pay a fixed amount every month. Credit card make up the majority of revolving loans where you control your monthly payment. <\/p>\n\n

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