Is financing Disney Vacation Club considered 'good' credit (e.g. mortgage) or 'bad' credit (e.g credit cards)?

Question

Is financing Disney Vacation Club considered 'good' credit (e.g. mortgage) or 'bad' credit (e.g credit cards)?

Answer 1

The difference between good credit and bad credit is whether or not it is considered "secured".  A mortgage is considered "secured" b/c there is a tangible thing (your house) that the back can come back and take away from you to sell for profit.  Same as with a car loan.  Credit cards and even student loans are considered "unsecured" b/c there is nothing the loan company can take away from you and sell for a profit if you default.  

That being said, I'm not sure what all Disney Vacation Club involves.  If it is a true time share. I would think that is considered secured.  But you want to be careful in any case b/c too much of ANY type can be bad.  (e.g. If you have 10 mortgages.. not good!)

Credit is a really fickle thing that no one really has a true calculation for.  I would say that if you can truly afford it and have expendable income to cover it.. then you'll be fine.

Answer 2

Bad credit is one of the worst problems to have... however there exists a solution. I will hereby talk from my personal experience. I did debt consolidation a couple of years ago, however If I had to do it again I would pay to some minor details, if someone wants to get out of debt today it is pretty easy with a debt consolidation plan, however it may get a bit tricky at times,

I suggest you get as much information as possible online on this first, a good place to start in my humble opinion is astraight to the point ebook with question and answer I found : http://www.counselingcreditcarddebt.com