My credit score has been stagnant from over a year(about 750). I am going to buy a new car in a couple of weeks and I do have enough money to make the entire payment but should I go for EMI just to improve my credit score. Does paying EMI improve credit score by a lot?
Yes, get a loan from a CU which has a tie up with your employer, it will have a good interest rate compared to others.
What does CU stand for ?
Credit union
Try DCU for a decent rate
What does DCU stand for ?
Digital Federal credit union
Law of marginal returns is majorly at play with your credit score. Above 750 won't get you any better rates or considerations, because 750 is already considered excellent. Taking out a new loan will hurt you in the short term
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Yes, that will help you immensely