Basics of credit

What is credit? Well Credit is when you can borrow money from a lender in return for a future payment. It depends on billing you take to pay the payment. Then they charge you interest for it. You can get credit cards or loans on houses as credit. When you open up a credit card you are given a credit score.

What are the forms of credit? There are many forms of credit. there is credit cards, personal loans, and loans, etc. What costs are associated with credit? The costs that are associated with credit are interest rate. Which is given based on your credit score.

What determines if someone gets credit and how much they get? A credit score is what determines if how much credit you get. You can view your credit report by asking for one once a year.

Credit history


Credit bureaus have the credit history that is requested by lenders to check your credit to see how good their score isl. They also check it to see if they have any identity theft.

Three credit bureaus, there is trans-union, equifax, and experian.

what you need to know about credit cards?

What is a credit card? A credit card is card that has a certain amount of credit limit you are given that you can borrow to buy things and you will pay back later with interest rates. There are also annual fees that have to be paid. Where can you use credit cards? You can use credit cards at stores, food places, anywhere you want. What are the benefits and costs of using credit cards? The benefits are that your credit score increases if you make payments on time, you can buy what you want just to make sure to pay back. The costs of using a credit car is that you pay interest rates and penetrability fees like not paying on time and going over the limit you are given which is exceeding your credit card.