Asked anonymously

Does borrowing and paying off debt, say a loan or mortgage, actually improve a credit score?

Report Question Report

  Leave Answer

Log in or sign up with email
By submitting you agree to our Terms of Service

  Answers  |  1

August 14, 2015

As long as your payments are consistent, in full, and on time, your credit score will improve with those actions. Be careful however as a credit score can decrease with too much debt (even when you are paying responsibly).

$commenter.renderDisplayableName() | 09.23.17 @ 07:54

{comment}

  Our Professionals Are Available to Help!

  Can't find What You're Looking For?