What is the credit?

Credit is the money that a person borrow from a creditor, such as a bank or cooperative, credit card issuer, a shop or an informal moneylend...

What is a credit history?

Credit history is a reference about a person's financial profile which indicates the creditworthiness of a customer. The history consists of...

Credit categories

ONE PAYMENT CREDITThis type of credit is simple. A creditor lends an amount of money to the borrower with the promise that he will pay the b...

BENEFITS OF FORMAL CREDIT

Formal credit offers four benefits that facilitate financing options, especially if it is achieved with a financial institution. Some of the...

Costs of a credit

There are 3 costs that are linked to credit:1. The responsibility of maintaining a firm budget.2. The interest that accrues when one does no...

What is a consumer loan?

DEFINITIONA consumer loan is money lent by a creditor to a borrower for a period of time, with the expectation that the borrower will pay it...

What is an investment loan?

DEFINITIONInvestment credit makes a borrowed amount of money increase the assets or asset value of an individual or business. The investment...

What is a home loan?

Housing credit is a financial instrument that allows a person to improve the conditions of the place where they live. This is a planned expe...

What is a credit card?

A credit card is revolving credit in the form of a card. The card can be used to make purchases at stores that accept credit or to withdraw ...

Considerations

Reputation:One has to think both about the reputation of the institution and that of its components. For example, it is important that the i...

Tips

Although credit is very useful for buying and investing in things that you can't afford without extra help, it's a good idea to keep your de...

Impact

Credit indicates two things in the life of a borrower:1) You have gained the trust of a creditor and therefore a responsibility2) It will be...

What is the Interest?

Interest is applied differently to credit than to savings. When applied to credit, it is an additional amount that a borrower has to pay to ...