A few facets influence your credit history, including exactly how much financial obligation you have actually. On top of that, the kind of financial obligation you borrowed from additionally matters. Generally speaking, financial obligation is categorized as installment credit or revolving financial obligation.
Focusing on how they vary — and exactly how they influence your credit score — makes it possible to decide what type to tackle first, if financial obligation freedom will be your objective. Continue reading “Installment Credit vs. Revolving Debt: Which Will You Spend Down First?”