Types of Credit and how they Impact your Credit Score

Types of Credit and how they Impact your Credit Score

Types
Having a poor credit score may not be the end of the world for you--but it certainly limits your future endeavors when it comes to bigger purchases. Unless you are sitting on a big mountain of cash, the most often sought after approach to buy a home or your first car is, take out a loan. Which brings us to credit. What is it? How does it impact you for the better and for the worse? What types of credit are there and what is a good score to have? These questions and more will be answered in this article, so you have a better understanding in how certain types of credit can impact your credit score and more importantly--your future. Credit 101: What Is It? When the haves gives…
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