Couples who purchase an engagement ring using a personal loan or credit card may be hurting their borrowing capacity down the line.
For some young lovers looking to start a life together, a personal loan or credit card may seem like the only option to pay for an engagement ring.
Personal loans and credit cards affect your borrowing capacity, a credit card with a $10,000 limit can reduce your borrowing capacity (your maximum loan size) by as much as $57,000. So, it’s wise to think about and consider your options.
For further information about loans and your maximum borrowing capacity call John Kraws on 0402 894 821