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  • FIRST POST
    • Missl2019
    • By Missl2019 6th Jan 18, 9:06 AM
    • 2Posts
    • 0Thanks
    Missl2019
    Credit
    • #1
    • 6th Jan 18, 9:06 AM
    Credit 6th Jan 18 at 9:06 AM
    Will taking out credit build your credit rating over 5yrs of being good with payments ontime etc
Page 1
    • binaryuniverse
    • By binaryuniverse 6th Jan 18, 9:18 AM
    • 533 Posts
    • 304 Thanks
    binaryuniverse
    • #2
    • 6th Jan 18, 9:18 AM
    • #2
    • 6th Jan 18, 9:18 AM
    If you have no previous credit history, then getting a credit builder card is the way to go.
    And yes, if you make purchases on it, and pay the balance on time, you will start building up a credit history that will give you better offers on credit products, such as 0% purchase deals.
    • DCFC79
    • By DCFC79 6th Jan 18, 9:53 AM
    • 30,626 Posts
    • 19,365 Thanks
    DCFC79
    • #3
    • 6th Jan 18, 9:53 AM
    • #3
    • 6th Jan 18, 9:53 AM
    Will taking out credit build your credit rating over 5yrs of being good with payments ontime etc
    Originally posted by Missl2019
    It will help yes but it wont improve your credit rating, your credit history is what lenders can see and it is what will be improved.
    Can people stop loaning money/being a guarator to family/friends, it rarely ends well and you lose out as your money is gone or you get shafted with being a guarantor.
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