Does enrollment choice in paperless / paper monthly statements affect one's credit score?

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    Stilt Team

    Paperless statements are for convenience and cost saving more than anything else. It is convenient for both you and the credit card companies. It also saves credit card companies save money on printing and mailing statements every month.

    There are 5 major components of a credit score.

    1. Payment History - Based on a borrower’s payment history. This is the most important factor. Making regular payments on previous credit is very important. Try not to be late on your credit card and other credit payments.
    2. Credit Utilization - Make sure you don’t max out credit cards. It is important to maintain a good utilization rate (< 30% of your credit limits).
    3. Length of Credit History - It is important to show that you can consistently use credit responsibly that’s why you length of your oldest credit account is also matters.
    4. Credit Mix - Having different accounts and types credit accounts can show that you can manage different types of debts.
    5. New Credit - Low number of recent credit inquiries are important to show that you are not looking for credit all the time.

    Paperless statements don’t affect any of these things, so they won’t impact your credit score.

    About Stilt:

    Stilt provides loans to international students and working professionals in the U.S. at rates lower than any other lender. Visit us at https://www.stilt.co. If you have any questions, send us an email at team@stilt.co.

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