What is the relationship between monthly loan repayments and one's credit score?
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Your credit score depends on your credit history. If you're able to pay for your loan diligently and on time, then there are better chances of you getting a good credit score. While, different credit scoring models have different ways to compute for your score. In general, prompt payment of your loan assures you of an excellent credit score. You must remember that for you to be able to get the best interest rates on future loans, a good credit score is a must!
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