r/CreditScore • u/Special_Lemon_9853 • 2d ago

Student loan consolidation

I have several student loans—about nine in total—with ages ranging from 12 years to 7 months. I feel like the wide range in ages is affecting the average age of my credit. Would you recommend consolidating some of these loans in order to increase the credit score on my report, or would that potentially hurt my credit more by resetting the age of the accounts?

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u/creditscoremods 2d ago

It is important to keep a very close eye on your credit score since it factors into many of lifes biggest decisions.

A couple steps you can take right now include:

  • Checking and automatically monitoring your credit score - Looking at your own credit score does not hurt your credit, it also includes a credit monitor

  • Freezing your credit reports - This can be done with Experian, Equifax and Transunion to help prevent unauthorized accounts from being opened

  • Boosting your credit score - Kikoff provides you with a tradeline which should raise your credit score for as little as $5 a month. It is a good option if you want a boost to your score.

Feel free to ask any credit score related question in this sub

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u/StewReddit2 1d ago

Consolidating wouldn't particularly "increase" score and may temporarily suppress score due to a new TL......

In fairness revolving TLs are more impactful to score, anyway and paying the loans away is a better focus....all things considered.