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'Finance' vs 'Credit' to Improve Credit Rating
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MoniqueJD28
Posts: 1 Newbie
Hi all,
With a 'Poor' credit rating (mainly due to little credit history), I recently took a chance and applied for financing to cover some orthodontic work. I was accepted... Now if I stick to the repayment agreement, which is by Direct Debit, would this help to improve my credit rating in the same way making credit card repayments on time would?
Any advice would be much appreciated!
With a 'Poor' credit rating (mainly due to little credit history), I recently took a chance and applied for financing to cover some orthodontic work. I was accepted... Now if I stick to the repayment agreement, which is by Direct Debit, would this help to improve my credit rating in the same way making credit card repayments on time would?
Any advice would be much appreciated!
0
Comments
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Assuming the finance company reports your account to the CRAs then the answer is yes.I'm a Board Guide on the Credit Cards, Loans, Credit Files & Ratings boards. I'm a volunteer to help the boards run smoothly, and I can move and merge threads there. Any views are mine and not the official line of moneysavingexpert.com0
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