There keeping score
-The Need To Know On Credit- ( 1 )
-The Important Stuff- ( 2 )
You credit score is important, it tells lenders who are thinking of loaning you a large sum of money if you are reliable enough to pay it back. If your credit scores good they will be more then happy too. If its bad on the other hand they are more likely to send you away, no one wants to lose money. When it comes to credit a lender has to be the 2nd maybe even 1st most important thing. The lender is the one who actually gives you the credit based off how good of a job they think you did with paying on time. Finally you wanna worry about the interest rate, you may be thinking to yourself oh yea i'll be able to pay off 10,000 in the next six months easy. Well when they go ahead and tack on an extra 5% on the loan it'll be a different story. Its always important to make sure you get a good interest rate and that you can pay that rate.
-The All Mighty Credit Card!- ( 3 )
A credit card is a little plastic card that is set up to an account, this account has a money on it but you have a limit. Your bank will give you a rate, this rate is how much it will cost you to have this account and have access to a certain amount of money. If you were to go over this amount they would also charge you an interest rate. Now this money is not free you have to pay the rate to use the money along with paying back the amount you spent nothings free in life.
-Tips And Tricks- ( 4 )
The biggest tip you could ever have about a credit card is to not spend more than you can reasonably pay back. The debt starts to add up and the interest rates on the money you borrowed will put you in the whole and keep you there. Stuck in debt for the rest of your life till you have to file for bankruptcy. This is not meant to scare you but its a heads up on watching what you spend.