Does Paying Off a Loan Early Hurt Your Credit Score? Understanding the Impact
Paying off a loan early can have both positive and negative effects on your credit score, depending on your overall credit profile. While eliminating debt can positively impact your credit utilization and free up funds, it may also reduce the diversity of your credit accounts, which can slightly lower your score. Additionally, closing an account early may shorten your credit history, a key factor in determining your score. Understanding how credit scores work and strategically managing your loans can help you make informed decisions about early repayment. | Read the blog: https://www.coolcredit.com/blo....g/does-paying-off-a-
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