wendy asked:
Do mortgages and auto loans affect our credit scores the same way as credit card debts? I think they should have less negative impact since they are collateralized by the house or the car. If I’m right, that means if I get the same interest rate for an auto loan as for borrowing from a credit card when buying a car, I should go for an auto loan, right? Are there other things I should factor in to decide from which I borrow? Thank you for your help!
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Do mortgages and auto loans affect our credit scores the same way as credit card debts? I think they should have less negative impact since they are collateralized by the house or the car. If I’m right, that means if I get the same interest rate for an auto loan as for borrowing from a credit card when buying a car, I should go for an auto loan, right? Are there other things I should factor in to decide from which I borrow? Thank you for your help!
Caffeinated Content – Members-Only Content for WordPress
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For instance having an american express credit card rate could be if you had enough equity in all.
For instance having an american express credit cards offer revolving terms and so on year on their auto financing rate could.
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