I am buying a used car. To raise my beacon score more is it better to buy the car on an existing credit card or to get a bank loan for it?
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Anonymous
ANSWERS: 2
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beacon wants to see a mix of loans and credit card accounts. if you don't have any loans i would go with a loan or vice versa, this shows you can manage more than one type of credit account.
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I don't know if you want to just start taking out large amounts of debt just in an effort to increase your credit score. There is no magic way to cure your credit score. It takes time, it takes effort and it takes responsibility. Pay your bills on time, every month. Don't be late, don't take on a lot of debt to available credit, don't get over your head.
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