When a bank gives you a loan, it will do a complete credit check on you, and sometimes an unclosed credit card account that you forgot to close officially (even if you made all the payments and had a zero balance) can come to bother you. It is always good to close your credit cards officially and take a letter of closure with no credit from the bank. For current cards, you may need a letter from your bank saying that it is a current account. If you already have another loan on you, say a small, miserly personal loan you took 3 years ago to be repaid over 4 year period, you will be expected to present an account statement for that as well. Closing it altogether before pursuing the education loan would be even better. Again, nobody may ask for it. But if they do (and they will only in the later stages, just when you need to transfer the money), it is better to be prepared. You have been warned.
No comments:
Post a Comment