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| *The Commerce Journal>>>Credit |
Trying to build credit? |
My wife had no credit at all. I recently refinanced my car and added her name to help her credit. That was in September and have almost paid car off down to 2,500 dollars. I was told to pay one year to build payment history. I have the money to pay off now. The loan is 13% and I hate loosing money in interest. If I pay off then only 4 payments history. She also has 2 secured credit cards from BOA that will convert in Febuary to unsecured. We want to buy a home within one year. I also listen to Dave Ramsey but don't agree with his thoughts on credit score pay it off now and use the cards on things like groceries and pay them off evevry month visit daveramsey.com to learn what the credit slaver card pray u never learn or apply. pay it off now - save the interest I would check that having her name on your finance helps her credit- I cannot see how that shows she can manage money herself. I would pay it off now and get a small personal loan or buy something else on credit with a lower interest and pay it off in 3-6 months this will boost your credit specially if you do it throught your local bank where you will be applying for your home loan |
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