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23 Posts
I presume many here are financing their purchase.
I'd like to mention a few things to be careful of. This is only if you might be trying to buy or re-finance a house in the future. If you're not - then this stuff doesn't matter as much - just in situations where your credit score matters.
1: Don't allow your credit report to be pulled until you're ready to buy. Same applies to any financed purchases. Too many inquiries can lower your credit score which in turn can cause you to pay higher interest rates or not get approved at all if you're on the edge.
2: In a post on one of the other boards here, someone said that they'd just bought their E and had 2 credit cards to spend on mods.
Cool.
Just don't max out a card if you intent to carry the balance. Besides the obvious interest ding, carrying a credit card balance over 1/2 the limit - and certainly maxing them out will lower your score. The best thing you can do for yourself is never go over 1/2 of the limit and show a good healthy payback stream. It's better to have 3 cards with $2000 limits charged to $1000 each than maxing one and 1/2ing another.
Just some info. Perhaps it'll help somebody here to avoid problems and build a strong credit score.
Peter
I'd like to mention a few things to be careful of. This is only if you might be trying to buy or re-finance a house in the future. If you're not - then this stuff doesn't matter as much - just in situations where your credit score matters.
1: Don't allow your credit report to be pulled until you're ready to buy. Same applies to any financed purchases. Too many inquiries can lower your credit score which in turn can cause you to pay higher interest rates or not get approved at all if you're on the edge.
2: In a post on one of the other boards here, someone said that they'd just bought their E and had 2 credit cards to spend on mods.
Cool.
Just don't max out a card if you intent to carry the balance. Besides the obvious interest ding, carrying a credit card balance over 1/2 the limit - and certainly maxing them out will lower your score. The best thing you can do for yourself is never go over 1/2 of the limit and show a good healthy payback stream. It's better to have 3 cards with $2000 limits charged to $1000 each than maxing one and 1/2ing another.
Just some info. Perhaps it'll help somebody here to avoid problems and build a strong credit score.
Peter