Leo’s Credit Tips & Repair

28.3K followers

Follow

Follow

Follow

3 saved

15

12

2 BENEFITS paying OFF cards 💳 before loans

Paying off loans drop scores, Paying off Card

boost scores and here's 2 reasons why:

1. Paying off loans (car, home, student loan) will close the account. Thus, closed accounts factor out of your credit score! Which is why you tend to see a drop.

2. Interest rates on loans tend to be much lower than credit cards. To save you money, It's best to pay off high interest debt before low interest debt.

The Less credit card debt, the more you're rewarded with a higher credit score

720 scores: 30% credit usage.

750 scores: 10% credit usage.

800 scores: 5% credit usage.

#credittips #creditscorematters #creditcarddebt #debtfree #creditscore

2025/5/5 Edited to

When it comes to managing your finances, understanding the impact of paying off debts in the right order can significantly boost your credit score and overall financial health. Firstly, paying off credit cards instead of loans can help maintain your credit score because credit utilization plays a crucial role in how your score is calculated. A lower credit card balance compared to your credit limit is ideal; ideally maintaining a credit utilization ratio below 30% can help in achieving a good credit score. In contrast, paying off loans may result in closed accounts that potentially lower your score, as older accounts contribute positively to your credit history. Secondly, the nature of interest rates also supports prioritizing credit card debts. Credit card interest rates are typically higher than those of loans. By focusing on paying down your credit card debts first, you can save significantly on interest payments over time. Studies show that individuals who prioritize high-interest debts tend to find financial relief much quicker. Additionally, reducing credit card balances not only enhances credit scores but also makes future borrowing opportunities more favorable due to a better credit profile. Using techniques such as the snowball or avalanche methods can help streamline the debt repayment process. Ultimately, understanding these benefits can empower you to make better financial decisions and help you work towards a debt-free life.

12 comments

Related posts

12 Financial Habits You Need to Master

1. Create a Budget Creating a budget is the foundation of financial success. It helps you track where your money is going and ensures that you’re spending within your means. To create an effective budget, start by listing your monthly income, then outline your fixed and variable expenses. Alloca

4084 likes

A pink and white monthly budget template titled 'MONTHLY BUDGET'. It features sections for tracking income, expenses with bill details, a monthly summary of total income, total expenses, and difference, and a savings section for additions and removals, all designed for financial planning.

How to Budget Like a Pro 💰✨

How to Budget Like a Pro 💰✨ (Especially for My Nurses & 9-5 Girlies) Let’s be real, budgeting isn’t about restricting yourself—it’s about making sure your money works for YOU! Here’s how I keep my finances in check while still enjoying life! 👏🏽💸 1️⃣ Know Your Numbers 💡 Before you can b

981 likes

A hand holds a Capital One Savor One credit card, with a Discover It card visible underneath. The image is titled "Using Credit Cards in College" and highlights both cards as options for students.

A hand holds a pink Discover It credit card. Text lists its benefits: 5% cash back on rotating categories, 1% on others, and a cash back match. It also describes how the card is used for qualifying purchases and larger expenses.

A hand holds a brown Capital One Savor One credit card. Text details its benefits: 3% cash back on groceries, dining, streaming, 8% on entertainment, and a complimentary UberOne membership. It notes its use mainly for groceries and high cash back rewards.

How I Use Credit Cards as a College Student

💳💵💳💵💳💵💳💵💳💵💳💵💳💵💳💵 I regret not getting my first credit card at 18. Now I wouldn’t advise that every 18 year old get a credit card, especially if you are a big spender, but at the very least I would recommend opening a card up and only paying for like Spotify with that card. Cards are obviously

3876 likes

Best Student loans that don't require a cosigner

🌸Edly Student loans: Unlike most private student lenders, the IBR No Cosigner Student Loan doesn’t require student loan borrowers to have a cosigner. Borrowers without a cosigner are 3x more likely to get approved for a student loan through Edly than with other private student loan providers and lo

1745 likes

FAST Tips to build (or rebuild) credit score 🌟

#summervibes #lemon8contest WHAT'S HOT: Real credit improvement strategies that work fast without paying credit repair companies. Simple hacks that boost scores even if you're starting from rock bottom. Forget credit repair companies charging $100+ monthly. Most credit improvemen

61 likes

Top financial advice habits to adopt before 2025

1. Create a Budget That Works Track your spending and make sure you’re living within your means. A realistic budget keeps you in control of your finances. 2. Build an Emergency Fund Aim to save at least 3-6 months of living expenses. This will keep you from relying on credit cards w

17 likes

A Good Credit Score = Access To the Bag 💰 

Just Recently I Never knew how important credit is I went from a 477 dropping credit score, to a 700+ This took me about a month . So what did I do? I dove DEEP into Education. Videos + Mentorship’s + More Video Tutorials how to master Credit . I had no one teach me anything about credit. But

3658 likes

A tablet displays a debt payoff dashboard. Overlay text introduces 'Student Loans 101' and outlines three key comparisons: Public vs Private, Subsidized vs Unsubsidized, and PLUS vs Parent PLUS loans.

This image compares Public and Private student loans. Public loans are from the US Dept. of Education, require FAFSA, and may defer payments. Private loans are from lenders, require credit checks/cosigners, have higher rates, and may require in-school payments.

This image differentiates Public Subsidized and Unsubsidized loans. Subsidized loans have lower, fixed interest, with the government paying interest while in school. Unsubsidized loans are similar but the government does not cover accruing interest during school.

👇BARE minimum you should know about STUDENT LOANS

Not all aid are created equal so it’s EXTREMELY important to know the differences among #studentloans before taking them out! I just filled out my FAFSA for 2025-2026 and here is a quick refresher if you’re an upcoming first year in university or someone returning for grad school. Best of luck to

110 likes

A brown wallet rests on a pile of US dollar bills, posing the question: 'Save Money or Pay Off Debt ?'

A brown wallet on US dollar bills with text stating there's no 'Correct' answer, as it depends on one's unique situation, followed by 'Here are some things to consider...'

A brown wallet on US dollar bills with text listing reasons to 'Pay off debt if...' including high interest, improving credit score, or debt causing stress.

Should you pay off debt or save money?! 💸💳

One question that is asked all the time is when you get extra money should you pay off your debt or should you start saving your money? Well, the answer is that there is no right answer. Every person situation is different and unique, but there are some things that you can consider. You shou

449 likes

Cards as a 24yr old - my experience!

Let’s start with that I’m 24years old and hold a full time job making roughly $3200 each month. Here are the details of my cards, their balance and benefits🌟 🌟Capital One Savor - Cash Back Benefits -$375 -5% cash back of travel through Capital Travel -3% cash bank on groceries, dining and stre

150 likes

how to start building credit with credit cards! 💳

The first option is a secured credit card (Capital One Platinum Credit Card) which means you’ll make a deposit upfront. After a few months of consistent, on-time payments, you could qualify for the Apple Card (if you’re an Apple user). If not, feel free to skip to the third option. Once you’ve b

199 likes

How I Paid Off My Student Loans

I paid off my student loan balance in full in 2023. It took a lot of time, saving and dedication. Here are the 4 areas I focused on cutting back on to save and pay off the loans as soon as possible: 1. Housing 2. Car 3. Groceries 4. Income #Lemon8Partner #PersonalFinance #MoneyHacks

388 likes

How Student Loans Affect Your Credit score

Student loans are like the training wheels of adulthood. They help you build credit, but they can also trip you up if you're not careful. Here's what you need to know: Tips for 20 to 30-Year-Olds Set Up Auto-Pay: It's like having a personal assistant who never forgets your due

27 likes

Let’s Talk Apartment Budgets with Student Loans

Can you relate to this budget? #rentwithme #apartment #budget #movingtips #renter

20 likes

Remove Your Student Loans

&& I help you do it

52 likes

The Financial Benefits of a ‘No-Debt’ Lifestyle

Hey there, fellow millennials! Let's talk about something that can change your financial life forever - living a no-debt lifestyle. It might sound daunting, but trust me, the benefits are worth it. What is a No-Debt Lifestyle? A no-debt lifestyle simply means living within your means and

39 likes

A spacious living room featuring a light-colored sectional sofa, a cat tree, and a large wall-mounted television. Two cats are visible on the floor, and the room has light-colored walls and a textured rug. The image includes a text overlay about a first luxury apartment.

A balcony with outdoor wicker seating, offering a view of a serene body of water surrounded by trees and lush greenery under a partly cloudy sky.

A deer stands gracefully in a grassy area near a reflective body of water, with a backdrop of various trees and foliage, showcasing the natural surroundings of the apartment.

My bf & I’s first luxury apartment at 20 + tips!

We love it here! One week in, we still need more decor but im satisfied for now. Florida 🧚🏼How can we afford & maintain this?🧚🏼 🦋we are both college students that work for $22+ an hour each and split the rent 50/50 which makes it so much cheaper. (He works in fraud prevention and I work

1726 likes

A medical student in a white lab coat over black scrubs and light blue sneakers takes a mirror selfie in a bedroom, with text overlay "BUDGETING as a Medical Student."

Two cups of coffee with latte art are displayed on a speckled surface, accompanied by text indicating a "LOAN REFUND: ~$15,000 PER SEMESTER" for medical school budgeting.

A sunset scene over a road with streetlights and a truck, featuring text detailing "RENT: ~$2,000/MONTH =$7,000 LEFT FOR FOOD & EXPENSES" for a medical student's budget.

How I budget my loans in medical school!

Ever wonder how we survive on loans in medical school? The federal loans include a stipend for living expenses, which is called our “refund”, as it is transferred into our accounts after tuition is paid. My rent changes based on which city I’m rotating in, but it’s usually around $2,000 a mo

80 likes

why are we still drowning in student loans?

Should healthcare workers automatically get student loan forgiveness? Here’s my take, yes, they should. Healthcare workers spend years in training, take on massive debt, and then enter a system where they’re overworked, understaffed, and underpaid compared to the emotional and physical demands

527 likes

How to rehab school loans In default

1. Contact your loan holder/collection agency. Ask to enter a rehabilitation agreement. 2. Go on the website , and print off the loan rehab pdf and fill out the paper work. You will also need attachments of paystubs and expenses for the department of edu to determine your monthly payments. 3

60 likes

How to remove your student loans

348 likes

Credit cards I own and why✨🍋

#wallet ✨ #creditcard #amex #creditcardtips #credit Credit cards can be tricky! If you have poor financial management, they can be easy to mess up 💁🏾‍♀️ that’s just facts I’m not writing pros and cons of each card on here ! Google is your best friend 💻 However from my experience bui

398 likes

Pay Off Student Loans

Paying off student loans can be a significant financial burden for many individuals. Effective strategies for managing and paying off student loans include: - Exploring loan forgiveness and repayment assistance programs offered by the government or employers to alleviate the financial impact. -

44 likes

Pros and cons of credit card

Credit cards can be a useful financial tool when used responsibly, but they also come with potential drawbacks. Here are some pros and cons of credit cards, along with tips on how to use them responsibly: Pros of Credit Cards: 1. Convenience: Credit cards offer a convenient way to make

13 likes

A person in blue medical scrubs, cap, and mask in a medical setting, with text overlay stating, 'How I paid off $110K+ of student loans in 3.5 years'.

A person in grey medical scrubs outdoors, with text detailing the first three strategies for paying off student loans: strict budgeting, boosting income, and making lump-sum payments.

A person in a maroon medical scrub top against a brick wall, with text detailing the last two strategies for paying off student loans: utilizing a high-yield savings account and auto-pay discounts.

How I paid off my student loans in 3.5 years! #studentloans #debt #debtfree #college

20 likes

employee benefits of a teacher 🍎

💼 Perks You Didn’t Know Came with Being a Teacher 👩‍🏫✨ Teaching may not always come with the biggest paycheck, but the benefits? Seriously underrated. Let’s talk about the real perks of being a public school teacher that go way beyond summers off 🌞📚 🩺 Low-cost, amazing healthcare insurance 📚 U

22 likes

A hand holds S.A. Cosby's novel 'My Darkest Prayer'. The cover features a dark building with a glowing cross on top, against a dark sky. Text mentions it reinvents the American crime novel and highlights the author as a New York Times bestselling author.

A hand holds Toni Morrison's novel 'Beloved'. The red cover displays the title in large gold script. Text indicates it is by the Nobel Prize winner and includes a new foreword by the author.

A hand holds Nikki Payne's novel 'The Princess and the P.I.'. The cover shows a woman in a red dress and a man in a white shirt and tie in an office setting. Text describes it as 'supercharged drama'.

Recent library holds. These have either been on my TBR or are from authors I’ve read and loved.

17 likes

A person's hands hold a large fan of various US dollar bills, illustrating the concept of saving money. Text overlay introduces the topic: "How I save money as a college student! SWIPE."

Several credit cards from different providers are fanned out, with text emphasizing "Using Credit Cards! Pay them on time!" to highlight responsible credit card use.

A collection of icons representing various money-saving applications is displayed, with text indicating their functions like tracking budgets, finding deals, and earning cash back.

How I save money 🤑

These are my favorite money saving tips!! I’m going to explain in depth for the girlies who are new to finance ;) 1. Using credit cards I know credit cards can seem intimidating but they have lots of great benefits once you learn how to use them. This is what I do to ensure I don’t go into debt:

377 likes

Is Sallie Mae the only option for student loans??

One thing I wished I knew when I started college was to never get loans from Sallie Mae. They are mostly the only option your school gives you when financial aid doesn’t cover your whole tuition. The interest rates are so high that even as a student if you’re paying them monthly (like $25-$10

12 likes

Company benefits to look for in job postings 👩🏻‍💻

After we get the basics like health insurance and vacation time out of the way, I like to see what other benefits companies offer before applying to their open roles! Some underrated ones I love include: 🎓 Education Assistance ($$$ towards school/loans) 🏋🏻‍♀️ Wellness Benefits (gym membershi

26 likes

The BEST way to PAY OFF STUDENT LOANS

@Welcome Baddies The best way to pay off student loans involves following a balanced budget, taking advantage of tax benefits and forgiveness programs, and making extra payments whenever feasible. By allocating a portion of your income towards debt repayment, claiming tax deductions, and expl

89 likes

You’re Using Credit Cards Wrong

Credit cards don’t put you in debt, bad spending habits do. If you pay off your balance in full each month, you’ll never pay interest. Used correctly, credit cards can actually make you money. Cashback, travel rewards, and purchase protection are benefits debit cards don’t offer. Avoiding cre

49 likes

pt. 1 questions to ask before getting married

1. Do you want children? This is SO important to talk about, even if it seems far in the future. If you want kids and it is a nonnegotiable for you, you should not marry someone who doesn’t want kids. If you don’t think you want kids, you shouldn’t marry someone who has their sights set on having

40 likes

Defaulted Student Loans

#loans #default #student #studentloans #studentloanforgiveness

9 likes

An advertisement for DAC David Allen Capital, Inc. promoting business capital funding from $2,000 to $2,000,000. It details funding terms, minimum requirements, and common uses for small businesses, featuring a woman looking at a device and a contact number.

I love the new year—it gives the opportunity to manifest greatness. If you're in a position to expand/maintain or start your business, this is your sign. After many years in banking, I’m now with David Allen Capital, where we provide business loans. I’m proud to serve all 50 states and Canada.

6 likes

Benefits of Having a Great Credit Score

As much as we may not like the concept of a credit score, your score does matter and can impact multiple factors of your life. So, what are the benefits of a great credit score? - Lower Interest Rates: With a higher credit score, you are less risky to creditors. This means you’ll qualify for lo

21 likes

Are We Paying Off Those Collections or Naw?

Hey Calm Seekers!!! One of the common questions or comments I am told when talking to a potential credit client is, “do I pay off my collections?” Or “I’ve been paying off my collections. My mission is to reduce your stress and/or anxiety through financial education and help you build wealth

6 likes

5 Loans in 2 Days… Slowly Getting My Rhythm Back 💪

There’s something powerful about feeling momentum return. Back in the office at 6:30 AM.3–4 loans submitted today.2 more yesterday. 5 loans in the last 2 days. Not where I ultimately want to be yet, but I’m proud of myself for continuing to show up, continue to rebuild, and continue to mov

0 likes

A comprehensive list of colleges and universities, including institutions like Ross University School of Veterinary Medicine, Charlotte School of Law, and American Career College, presented in a grid format. This list is provided for individuals to check if their school is eligible for student loan discharge through programs like borrower defense.

Discharge your student loans

If your school is listed apply for borrow defense on studentaid.gov #college #discharge #collegetips #collegelifestyle #studentloan #studentloanforgiveness #studentloandebt #studentstips #collegelife #collegestudents DON’T WALK RUN!!!!!! Share like comment asap this may help

6 likes

See more