Bro - why will you think about impact on credit history when you are saving money on interest payment for education loan - assuming educations loans are usually huge in terms of loan availed.Will the credit history age reduce if I close an 8 year old education loan account? Impact of prepayment credit score?
The only other credit history I have is 2 credit cards, both are less than 1 year old.
Please check on CIBIL Transunion.What is Credit age?
Paisabazzar showing ~5Y
One Score showing ~11Y
Which is more accurate?
5Y ago, was my first CC which is still activePlease check on CIBIL Transunion.
Oldest Active Account will be considered, in your case 5 years.5Y ago, was my first CC which is still active
11Y ago, was my first loan which was closed in a year
So, which can be considered as credit history/age?
Go ahead and close the edu loan. In any case, this will reduce your unsecured loan, (assuming you have not pawned anything to get it) and thereby increase your score in coming months.Will the credit history age reduce if I close an 8 year old education loan account? Impact of prepayment credit score?
The only other credit history I have is 2 credit cards, both are less than 1 year old.
The CIBIL report isn't telling the average age - it just tells the score and the starting date of each running credit line.Please check on CIBIL Transunion.