 TITLE: Step-By-Step Checklist to Getting a Personal Loan CONTENT: Know How a Personal Loan Affects Your Credit Score\n--------------------------------------------------\nMaking loan payments on time and in full until your loan is paid off can improve your credit score. However, missing a payment, paying late or defaulting on the loan can lower your credit score. Other ways a personal loan can affect your credit score:\n*   **Credit mix**: If you don't currently have an installment loan, a personal loan will increase the types of credit you manage and could improve your credit score.\n*   **Credit utilization**: Paying off credit card debt with a personal loan can lower your credit utilization ratio, which could improve your credit score.\n*   **Credit history**: If you're trying to build a credit history, don't pay the loan off early. Doing so will close the account on your credit report, which could lower your credit score.\nConsider monitoring your credit for free through Experian to see how your loan impacts your credit going forward. END