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Paying Off Credit Card with Unsecured Personal Loan MAY Help your CreditIf you take out a personal loan to pay off your credit card debt and continue to make payments in time on that new loan, it will help benefit your credit score as it shows you are making your payments on time. So it only improves your score in many cases. It is good to have new accounts, but not too many in a short period of time though. Try to keep good, solid, long standing relationships with banks, lenders and creditors and a good credit score will follow. |
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