When I went to go get my first car, the dealership approve me for a car with no cosigner since I had my credit cards for a year but my interest rate was incredibly high at 12 percent. When I ask why my interest is so high they stated that my credit history is very new and that I need different types of credit such as personal loans or student loans, mortgage is good to have because it show you can pay any type of loan back regardless of what type it is. This is very helpful because the dealership also mention that a car loan is the hardest loan to obtain because if you default on the car, unlike a house it’s not stationary and can be hard to track down. So having multiples accounts and a few at a time will help show creditors that you are a reliable borrower and can be trusted with a
When I went to go get my first car, the dealership approve me for a car with no cosigner since I had my credit cards for a year but my interest rate was incredibly high at 12 percent. When I ask why my interest is so high they stated that my credit history is very new and that I need different types of credit such as personal loans or student loans, mortgage is good to have because it show you can pay any type of loan back regardless of what type it is. This is very helpful because the dealership also mention that a car loan is the hardest loan to obtain because if you default on the car, unlike a house it’s not stationary and can be hard to track down. So having multiples accounts and a few at a time will help show creditors that you are a reliable borrower and can be trusted with a