Credit Newsletter

Cheyenne Salazar

The Basics of Credit

If you may not know what this is about, credit is being able to purchase a good or service and return the payment in the future. There are several different types of credit, for example: personal loans, credit cards, lenders, etc. You credit report consist of your fees, as in your interest, your creditworthiness, and your lenders. You may also get fees for overdrawing, for your loaners, late fees, interest, etc. In order for someone to receive their credit, they must maintain a good credit score, credit report, and credit bureau. Without that, they may not be able to receive their credit. The amount depends on how much their interest is.
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Three Important terms about Credit

Credit History shows the bank whether or not you are responsible for paying your own debts. Credit Score (ratings) are tied in with the persons credit history and their creditworthiness. Their credit score ranks between 300 and 850. By paying back your debts, the higher number you have, the more creditworthy you are.
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