The Age Old Question: Should You Pay Off Debt or Save?
Penny Pinchin' Mom
DECEMBER 17, 2023
Your positive credit report will encourage other lenders to grant similar facilities. Your risk profile goes down as you are no longer a first-time borrower, and your debt-to-income ratio goes down along with your credit utilization rate. This is why you should pay off your high-interest debts like credit cards first.
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