Does consolidating student loans hurt your credit score

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In Which, your credit report and credit score will end up being the determining factor in your approval or rejection process.Which is one reason we want to discuss consolidation and affects on credit.

A low or bad credit score can result in bank penalties, cancellation charges, credit card rejections and loan application denials.

The question you and many others may be asking is: Does my student loan affect my credit score? .student loans are affecting your credit score in a variety of ways, many of which you may not have been aware of….

Student loans generally fall into the same category as automobile loans and home mortgage loans.

And while our site doesn’t feature every company or financial product available on the market, we’re proud that the guidance we offer, the information we provide and the tools we create are objective, independent, straightforward — and free. Our partners cannot pay us to guarantee favorable reviews of their products or services. " At Nerd Wallet, we strive to help you make financial decisions with confidence. Consolidating your debt can lower your monthly payments, but it can also cause a temporary dip in your credit score.

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