Lee1981 Posted September 7, 2017 Share Posted September 7, 2017 Gf got turned down for a car other day. I applied for car loan and got it. She thinks it will help her better if s ahe buys it outright and just pays me back. Will this way help with her credit much? Link to comment Share on other sites More sharing options...
ez8004 Posted September 7, 2017 Share Posted September 7, 2017 Gf got turned down for a car other day. I applied for car loan and got it. She thinks it will help her better if s ahe buys it outright and just pays me back. Will this way help with her credit much? No, buying something outright doesn't help your credit score. You need a credit card to start with and keep on using it and paying it off. That will help. Link to comment Share on other sites More sharing options...
Puggie Posted September 7, 2017 Share Posted September 7, 2017 Martin Lewis (the chap from Money Saving Expert) has written a very good article on credit ratings, how they work, and how to improve your own. http://www.moneysavingexpert.com/loans/credit-rating-credit-score Link to comment Share on other sites More sharing options...
Danny_Boy Posted September 8, 2017 Share Posted September 8, 2017 Gf got turned down for a car other day. I applied for car loan and got it. She thinks it will help her better if s ahe buys it outright and just pays me back. Will this way help with her credit much? Whatever you do, do not take out payday loans. Some of them advertise that they improve your credit rating but they can stop you from obtaining credit from elsewhere. Link to comment Share on other sites More sharing options...
nowt2pctoday Posted September 8, 2017 Share Posted September 8, 2017 i told my kids as soon as they were 18 to apply for a couple of major credit cards which they did, they were sensible enough to know not to abuse them and bought small items petrol etc over a year and paid it back on time at the end of every month, as a result their rating is excellent and the amount of credit available to them is high. never use more than 20% of your available credit. Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now