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Personal Loan
Will a personal loan (unsecured loan) used to payoff cc’s improve my score?
I discovered a website today http://www.prosper.com that offers personal loans for all sorts of reasons. It looks like the real deal. Somehow tied in such that it reports to your credit report though. So my question would be: If I have a personal loan for ~$14k on my report-pay back over 3 yrs., is that better for my score than the 7 different credit cards that total the same? I am just looking for chances to consolidate and strengthen my score.
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