A credit score plays a massive role in a person's prospects for obtaining financing. How high or low your credit score is will determine if you're approved for things like a rental property, loan, or credit card, and at what rate. Having a good credit score means you have more access to favorable financing terms, pay lower interest, or need to put less money down to obtain financing.
While most people don't think of using debt to boost your credit score, strategic use of certain debt can do wonders for one. Here is a closer look at 10 types of debt that you can help improve your credit score.
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