TYPES OF CREDITS
ADVANTAGES AND DISADVANTAGES OF USING CREDIT
2.-High Interest Rates and Increased Debt
3.-Credit Card Fraud
HOW DO YOU CALCULATE THE COST OF CREDIT
- Subtract the discount rate from 100%. For example, if a 2% discount is offered, the result is 98%. Then divide the discount percentage by 100% less the discount rate. To continue the example, this is 2%/98%, or 0.0204.
- Multiply the result of each of the preceding steps together to arrive at the annualized cost of credit. To complete the example, we multiply 0.0204 by 18 to arrive at a cost of credit of 36.7% for terms that allow a 2% discount if paid within 10 days, or full payment in 30 days.
The federal government does NOT provide grants for starting and expanding a business.Government grants are funded by your tax dollars and therefore require very stringent compliance and reporting measures to ensure the money is well spent. As you can imagine, grants are not given away indiscriminately.
These documents will support the information you’ve provided in your refinance application. Let’s take a look at the types of documents your mortgage banker will be asking you to provide.
2.-W statements from the past two years.
4.-Proof Of Your Income
WHY IS IMPORTANT TO KNOW THE USES OF DIFFERENT CREDITS
TO HAVE MORE CREDIT OR EARN MORE MONEY
OR JUST BECAUSE THAT CAN HELP TO MAKE YOUR CREDIT LOOKS BETTER
BUT YOU HAVE TO LEARN HOW TO USE EACH CREDIT CORRECTLY