Don’t fall for this credit myth – paying too early will hurt you

House Logic has some tips that might help even seasoned home buyers. Today we’re featuring…

Myth #6: Paying off a student loan or car loan early will hurt your credit.

Reality: Ah, no. Credit report companies definitely do not punish you for paying off loans early. They might even throw you a parade. (Not really. Put away your princess wave.) While responsibly paying installment loans may be good, paying off those loans is way better.

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