Jesus Flores

The Basics of Credit

Do you know what Credit is? Credit is to borrow money from a bank, government, or etc. There are different kinds of credit like non-revolving credit, revolving credit, secured credit, unsecured credit and short-term loan. People who check your credit are looking for the 3 Cs:. character, capacity, and capital. When you go to the bank they will give you a Credit Card. That card will allow you to borrow from the bank. Credit could come different ways like student loans, credit cards, Auto loans, and mortgages. A student loan is to help students to pay for college, books, and other stuff that involves in school. Next comes Auto loans. Auto loans are a loan that you to purchase a new or used vehicle. Then comes mortgages. A mortgage is a real property to raise funds to buy real estate fro your Lender. Do you know how much credit and how much they get or It determines by how to own you and how well you pay your bill? First, the people will look at your Credit Report. They look at your personal loans.

Credit Cards

Do you know what is a credit card is a card that boards money from the bank. You can use the credit cards in stores and when you buy stuff. But when you use a credit card the company charges an annual fee. The benefits of using a credit card are you can use it for an emergency. When you don't money you could use your credit card. But some cost of using your card is the Interest Rate. Then it depends on your Credit Limit. If you pass your Credit Limit, you have to pay the Over-the-limit fee. If you don't the bills you get Penalty Fee.
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This Doc has the 2 Comparing to Credit Cards.

Using your Smarts

People sometimes never think. They go overboard about using a credit card. You got to be smart about using you credit card. When you use your credit, use it for small stuff. If you want to be buy thing expensive, you need be ready yo pay the bill. You must plan. Also, you need to pick a right credit card that fits you. You have to pick the right and sometimes they could trick you.

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