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What is Credit?
Being out on your https://www.exness.net.in/mt4 own can be fun
and exciting, but it also means taking on new financial
responsibilities. The decisions you make now about how you
manage your finances and borrow money will affect you in the
future—for better or worse.
Did you know that there are
companies that keep track of whether you pay your debts and
if you make payments on time? Then these companies make this
information available in the form of a credit report and
score.
A bad credit history can haunt
you for a long time, seven
years or more. That’s why
the best thing to do is learn how to maintain good credit
before there’s a problem. While this might seem complicated
at first, it gets easier once you understand the basics of
credit and how it works.
Credit is more than just a
plastic card you use to buy things, it
is your financial trustworthiness. Good credit means that
your history of payments, employment and salary make you a
good candidate for a loan, and creditors—those who lend
money or services—will be http://www.exness.net.in/mt4 more willing to work with you.
Having good credit usually translates into lower payments
and more ease in borrowing money. Bad credit, however, can
be a big problem. It usually results from making payments
late or borrowing too much money, and it means that you
might have trouble getting a car loan, a credit card, a
place to live and, sometimes, a job.
Types of Cards Available
Credit Card
- You can use a credit card to buy things and pay for them over time. But remember, buying with credit is a loan you have to pay the money back. What’s more, if the credit cards company sends you a check, it’s not a gift. It’s a loan you have to pay back. In addition to the cost of what you bought, you will owe a percentage of what you spent (interest) and sometimes an annual fee.
Charge Card - If you use a charge card, you must pay your balance in full when you get your regular statement.
Debit Card - This card
allows you to access the money in your checking or savings account exness mt5 electronically to make purchases.
The Best Credit Cards Online
www.excellent-credit-cards.com Updated
19/07/2004 05:43 PM -0500
Copyright © 2004 All Rights Reserved!
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