I have one credit card ( revolving credit ) and I have one student loan ( fixed monthly payments ). I want to keep one revolving account and one fixed account. Would a bank loan that pays off the student loan look better as a fixed loan? I guess my question is: Do they both count as fixed loans or is the bank loan a more “authentic” fixed loan. From what I can tell… Doesnt matter. . They’re both ‘installment’ loans on your credit report. I would not take a bank loan because MOST LIKELY the interest is not tax deductible like the student loan. i would advise to have 2-3 credits. . 2 installment loans. . Can be student loan, auto loan or other loan. . And a MORTGAGE. Make sure you keep low balances are on revolving accounts. . And you should be go to go.
Deciding to get a bank loan is a big decision, and one should know details about what to expect when applying for a loan. Decide if a bank loan is a good for. . .