What about credit

By David Saavedra

What is credit?

Credit is the ability to consumers to obtain goods or services before payment.

What are the forms of credit? Student loans, credit cards etc. The cost and benefits that are associate with credit are getting cheaper payments. What determines if someone gets credit and how much they get? is based on how well the person pays pays for the money bored and the credit card payments.

Credit Card

What is credit card? A credit card is a contractual agreement in which a borrower receives something of value now and agrees to repay the lender at some later date. Where can you use a credit card? You can use a credit card in any place or store that accepts credit cards; such as stores and gasoline stations. What are the benefits and costs of using credit cards? The benefits is that what ever you purchase you get to pay it at the end of every month.

Shopping for credit

I will compare two credit cards from different banks.

1. Bank of America:

  • No fees for standard checks and incoming domestic wires.

  • No monthly maintenance fee when you meet balance or account qualifications. See the Fees tab Bank of America Interest Checking for more details. Otherwise, $25 monthly maintenance fee.

2. TCF :

  • NO monthly maintenance fees

  • NO Minimum balance

  • Low 25$ minimum opening deposit

  • TCF Debit card and free withdrawals at TCF ATMs
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Don’t Fall Into the Credit Card Trap

There is a lot of people that out there that is always trying to find a way to take over your credit card or debit card. One example in a TV commercial there could be someone behind and ready to still from others. There is more than one way to get trap, even buying something only is risky. Remember to not use your credit card like any other card because by one silly mistake you can loose a lot of credit score.