Should I pay stud loan with credit card each month for the purpose of a better FICA score?
If you want to improve your credit score, using a credit card is a good way to do it, however not the way you plan. You’re better off paying the student loan directly and using your credit card for purchases that would not exceed more than half of your credit line. If you carry a small balance on the card for several months, then pay it off in full, then do the same thing again, it will show your ability to pay your debts off, thereby improving your credit score. To get a lower apr on your WF card, call them and ask for a lower apr. They’ll tell you one of two things, either yes they can lower it, or no they can’t. If they can’t, be sure to ask when you should call again, and what you can do to make sure you’ll be able to get a lower apr in the future. The thing to remember when you call is if you’re nicer to the person on the phone, they’ll be nicer to you and probably give you more information than if you scream or are rude. Things like late payments and going over your credit limit
