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Buying musical equipment on finance, how much of an affect does it have on my rating?
Alex6534
Posts: 3 Newbie
Hey folks, first post here 
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I'm in no financial trouble at the minute and just posting out of curiosity. A year ago I took out finance on a piece of musical equipment (paid 50% deposit) and looking to pay back early, it was over 24 months and now on month 16. I'm good at managing my money and haven't missed a single payment, is this a decent way of building up my credit rating? Cheers!
.I'm in no financial trouble at the minute and just posting out of curiosity. A year ago I took out finance on a piece of musical equipment (paid 50% deposit) and looking to pay back early, it was over 24 months and now on month 16. I'm good at managing my money and haven't missed a single payment, is this a decent way of building up my credit rating? Cheers!
0
Comments
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It's just a loan, regardless of the purpose. As long as you keep to the terms, it won't have a detrimental impact (apart from being an existing line of credit which would reduce what another lender may offer, should you need it).0
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Great, wasn't sure if lenders saw it any differently. It's my first real credit on my account so have a lot to learn.0
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