Does making major purchases improve your credit score?

+1 vote
asked Dec 13, 2017 in Other-Finance by Vic23 (220 points)
Does making major purchases improve your credit score?

1 Answer

0 votes
answered Dec 13, 2017 by Shawn (105,070 points)
If you take out a loan or other line of credit to make the big purchase and pay off the purchase payments on time then your credit rating should improve overtime.

If you take out the loan or other line of credit and make the big purchase and miss payments then it will ruin your credit score.

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