Two years ago I paid off my car. I'll probably keep it another 3-4 years. Last year I paid off the last of my student loans, at one time totalling more than $70,000. I have one credit card and also use an Amex card that is in husband's name. I sock substantial money into savings (401K) but that doesn't appear on credit report.
I was concerned that not having in loans/payments would be bad for my credit so when DH bought a car last year we financed it inexpensivly through my credit union. The interest rate was very low. We otherwise would have paid cash.
Was this the right decision? Does the loan help my credit?
I was concerned that not having in loans/payments would be bad for my credit so when DH bought a car last year we financed it inexpensivly through my credit union. The interest rate was very low. We otherwise would have paid cash.
Was this the right decision? Does the loan help my credit?
