Basics of credit
Forms of credit?? - The forms of credit are instalment credit, revolving credit, open credit. instalment credit is credit that you use to borrow money and promise to repay in equal amounts over a specific period of time. Revolving credit is credit that allows you to borrow a pre-established amount repeatedly as long as your account is in good standing.
What are the cost associated with credit?
The cost are any type of fees like late fees, paying bills on time, buying a house and purchasing a vehicle?
What determines if someone gets credit and how much they get? - the credit bureau keeps track on how your credit is.
credit history- record of credit
where can you use credit cards?
you can use a credit card anywhere that accepts them