Credit Newsletter CE
The Basics Of Credit
What are the forms of credit?
The forms of credit are like credit cards and personal loans. Credit cards are what you can pay with almost anywhere it takes out the money from your account once it’s swiped. A personal loan is something you want to buy but can’t pay right away so you borrow money with interest, first they check for creditworthiness, so they know that you could pay it all back. It would be looked over by a lender that would look for character, capacity, and capital in you.
What cost are associated with credit?
It is associated with the fees you have in your history and your credit scores have it all. Your credit scores hold all you history of the credit you have ever used with all your information as well as a credit report.
What determines if someone gets credit and how much they get?
A person’s credit on how much they get could be determined by their Credit Bureau, which is how many times the person gave a bounced check, if they have ever missed a rent payment or if they’d ever been sued. They check their number to see their creditworthiness. So they can know if they are able to pay things on time.
Credit cards: What You Need To Know
What is a credit card?
Where can you use credit cards?
What are the benefits and cost of using a credit card?
The benefits of using a credit card are that if you pay your entire balance by the due date then you do not have to pay any Interest Rate (APR). The cost is that If you do end up missing the due date of paying then your interest rate could be up to 29%. Another cost is, there is over-the-limit fee and if you do go over the limit then you would have to pay for that too. There’s also penalty fees, that are cause by late payment, over credit limit, or returned payment. That could also result in you having to pay more interest rate.
Smart Consumers: Don’t Fall Into the Credit Card Trap
A good ways to stay safe while using a credit card would be not to share your pin number with anyone. If you do then anyone would be able to access your credit card and pay with it with your money. Another tip, if you lose your credit card go to your bank and cancel it as soon as possible because anyone could have it. Also, don’t use the credit on everything you buy because it’s harder to think about the credit card as cash and so you end up spending more.