One to exception to this rule happens when you re-finance otherwise combine credit debt that have a cost loan, instance a personal bank loan

One to exception to this rule happens when you re-finance otherwise combine credit debt that have a cost loan, instance a personal bank loan Moving revolving financial obligation to help you a repayment mortgage can also be lower your borrowing from the bank use rates, that keeps a significant, difference on the score-so long as you try not to run up balances on notes you just paid off State you really have a great $5,000 personal bank loan within good sixteen% annual percentage rate (APR) having 36 months remaining and there is zero prepayment penalty.

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