Low Fico Score Affecting my Internship at Bank?
I have a studnet loan for $3000 outstanding and that is significantly bringing down my FICO score (592) … what can i do? i have a big internship with a financial institution in which the maanger said i have the job barring i pass the pre-employement screening (which includes the credit check)
i am still a student, and it is weird because i am not supposed to be obligated to pay this amount back until 6 months after graduation (which is in 2 and a half years) btw im 19 and in my second year of university
Your credit score can change dramatically over night. You can pay your bills on time and still have a low score due to lack of experience or too much debt to income ratio. Newness of a debt also reports negatively on you score. Most companies look at more than just the score. They will check to see how you pay your current bills. A lack of credit experience isn't the only criteria that is used. It is only one thing that is checked. Only time and paying your bills on time will help your score. Avoid accumulating a lot of debt, especially credit card debt.
Your credit score can change dramatically over night. You can pay your bills on time and still have a low score due to lack of experience or too much debt to income ratio. Newness of a debt also reports negatively on you score. Most companies look at more than just the score. They will check to see how you pay your current bills. A lack of credit experience isn't the only criteria that is used. It is only one thing that is checked. Only time and paying your bills on time will help your score. Avoid accumulating a lot of debt, especially credit card debt.
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