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Credit Card
Published on 2010-05-08 12:48:17
A credit card is part of a system of payments named after the small plastic card issued to users of the system. It is a card entitling its holder to buy goods and services based on the holder's promise to pay for these goods and services. The issuer of the card grants a line of credit to the consumer (or the user) from which the user can borrow money for payment to a merchant or as a cash
How credit rating is determined
Published on 2010-05-03 12:22:41
Credit ratings are determined differently in each country, but the factors are similar, and may include:• Payment history - a record of delinquent payments, generally being more than 30 days, will lower the credit rating.• Control of debt - Lenders want to see that borrowers are not living beyond their means. Experts estimate that non-mortgage credit payments each month should not exceed more
1.4. Credit history
Published on 2010-05-03 12:21:38
The way credit card owners pay off their balances has a tremendous effect on their credit history. All the information is collected by credit bureaus. The credit information stays on the credit report, depending on the jurisdiction and the situation, for 1, 2, or even 10 years after the debt is repaid.Source: wikipedia.orgRelated articles:° Your Credit History° How Credit Rating Is Determined
