Knowing your credit score and reviewing your credit reports at least annually is especially important if you're planning
on making a large purchase like a car or house.
We have seen what can happen with the economy and jobs so it is important to always keep that in the back of your mind
when making a large purchase.
If you are planning to
make a large purchase in the near future, you should be aware that there isn't an introductory APR on purchases or balance transfers.
This can be beneficial to businesses that need to
make large purchases from time to time that won't fit in a traditional credit limit.
If someone knew that accumulating too much credit card debt could prevent them from
making a large purchase such as a home or car, it would likely cause them to rethink their spending.
Some investors will save up their contributions and
then make a larger purchase when they feel the timing is right — this is called a lump sum purchase.
If you're planning on
making a large purchase anyway, you can get much more for your money with a credit card that offers new cardholders 75,000 bonus miles.
If you're looking to
make large purchases over a period of time and want to pay less in interest, taking out a HELOC could be beneficial.
When an
investor makes a large purchase into an ETF that invests in a narrow segment of the market, like small cap or international, there can be liquidity concerns.
You shouldn't
even make large purchases with cash because lenders want to see that you have enough savings to keep paying your mortgage in an emergency.
Your credit score determines whether or not you can rent an apartment, apply for a loan or credit card, or
make large purchases like a car or a house.