Basics of Credit
Credit is payment received you need to record debits or credits made to your account. If you can not your credit. You can use Personal Loans available from the banks or other financial institutes to help individuals purchase personal items like a car, boat, etc. You use your credit by using a credit card. Installment credit is credit that you use to borrow and promise to repay in equal amounts. The next type is revolving credit allows you to borrow a pre-established amount repeatedly as long as your account is in good standing. You repay the established amount in full or make a partial payment that is subject to interest and/or fees. Open credit is credit that requires you to pay any amount of borrowed money in full every month. You can check your credit score by going online. Some fees that you have are discounted fee charges. You must show your creditworthiness-the reliability to pay back a loan. You must have character, capacity and capital.