The Importance Of Buildings Credit

By:Maria Garcia

The basic of credit

Credit is the ability of a customer to obtain goods or services before payment based on the trust of that payment that will be made in the future. Credit score can get you high scores. If you want to buy a car,house, or furniture the employees would check if you have good credit or bad credit score. The better credit you have the better chance to buy something half the price. Some credit cards give you discounts on the items that you going to buy like a phone or a car.



Auto loans and mortgages are examples of installment loans. Credit cards are perhaps the most common type of personal credit. Unlike installment loans, credit cards allow repeated transactions up to a maximum credit limit, also known as your available credit limit. Loans let you borrow money that must be repaid with interest. You can obtain a loan for a specific purpose, such as financing a new car, paying college tuition and buying or renovating a home.



They can boost your purchasing power because they can be used to buy goods and services over the phone, through the mail and online. Personal loans can be used for any personal expenses and don’t have a designated purpose. Credit cards can have their disadvantages, though, especially when they're used in an unwise manner.Acquiring too much credit card debt can ruin your credit score.They allow you to purchase items and pay them off in monthly installments. They offer discounts at stores and rewards. For instance, when you make purchases using the credit card you can collect points; these points accumulate and can be used to get free items, such as airline tickets. Credit bureau a company that collects information relating to the credit ratings of individuals and makes it available to credit card companies, financial institutions, etc.


Credit report helps you get credit on a car or a house. The credit report will tell lenders that you are responsible to make payments and also that you have a job that would help you make the payments. Your interest is given to you by how much you get a loan for when you buy a house or a car. Creditworthiness is when a person is good in paying their bills and this means that lenders look at your history and figure out if you're trustworthy. A person's credit score is extremely important, as it determines his or her eligibility for all kinds of financial endeavors, such as credit cards and home loans. Some people have difficulty adjusting their scores because they are not sure what the number is based on.

Credit Cards: What You Need To Know

A credit card is a small plastic card issued by a bank, business, etc., allowing the holder to purchase goods or services on credit. Annual fees charged by a credit card company each year for use of a credit card. This is a separate fee from interest rate on purchases. You can use a credit card to buy stuff like shoes,groceries, things you need for the house, etc instead of paying cash and not having cash on you.



I could use a credit card when I go out on a date or when I go out with friends. I could also use a credit card to pay my bills or other stuff. They can help you build a solid credit history—essential when you apply for a car or home loan.They can provide peace of mind—knowing that you have access to money in case of an emergency. Over the limit fee charged when your balance goes over your credit limit. Credit limit are usually determined based on information contained in the application of the person seeking credit, or that person's credit rating.



Some benefits of advantages in using a credit card is Purchase Power and Ease of Purchase Credit cards can make it easier to buy things. Protection of Purchases Credit cards may also offer you additional protection if something you have bought is lost, damaged, or stolen.Building a Credit Line - Having a good credit history is often important, not only when applying for credit cards, but also when applying for things such as loans, rental applications, or even some jobs. Some disadvantages are Blowing Your Budget. they encourage people to spend money that they don't have. Interest rate the proportion of a loan that is charged as interest to the borrower, typically expressed as an annual percentage of the loan outstanding. Penalty fees A fine is money paid usually to superior authority, usually governmental authority, as a punishment for a crime or other offence.

Shopping For Credit

Visa

  • Annual fee:$0

  • APR: 15.24%, 20.24% or 25.24% variable

  • Fees 0% for 15 months must be completed within first forty-five days of account opening

Master card

  • Annual fee:$0

  • APR:24.99% (Variable)

  • Fees:N/A


Link Visa: https://usa.visa.com/pay-with-visa/cards/card-finder/credit-finder-page.htm

Link Master card:http://www.creditcards.com/Mastercard.php


Smart Consumers:Don't Fall Into The Credit Card Trap

By using a credit card wisely is to get good credit and to try not to get bad credit. By getting good credit is to pay all your fines on time. You could also buy a house and get a good car by having good credit. Credit card could help you save up your money for an emergency or something.