lordreyrey Posted October 17, 2006 Report Share Posted October 17, 2006 Didn't know whether to put it here, or in student loans:Since completing my student loan rehab, I now have four installment accounts on my credit that are current and positive with them, and one installment account from my car--five total.Would it be beneficial to my credit to consolidate these four student loans into one loan, so there are only two installment accounts on my file, or does it matter? Link to comment Share on other sites More sharing options...
Ahntara Posted October 17, 2006 Report Share Posted October 17, 2006 Depends on what your goals are...As far as lenders are concerned, they prefer to see more, rather than less, tradelines. For a higher score, you may wish to open at least 2 revolving accounts (and of course maintain them in a positive manner). Link to comment Share on other sites More sharing options...
direred Posted October 17, 2006 Report Share Posted October 17, 2006 Consolidate if the reasons for consolidating make sense. Your score will take care of itself over time.I have three open student loan tradelines (AFTER consolidation) and twenty-one closed ones, plus two closed car loans. Link to comment Share on other sites More sharing options...
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