Aaron asked: So for five years or so I was really broke and I’ve accumulated a lot of small old bills. Nothing really big, $100 here, $300 there, all told it’s under $5000, which I realize is not much compared to folks that have a ton of credit card debt, of which I have none. [...]
rickymartyn asked: A credit rating is a judgment of worthiness of an individual or customer. It is based on the history of repayments, borrowing money, assets available and liabilities. When the individual lend money from the lenders the report goes in the financial bureau with constant updates on the status about your account, address since [...]
Nick Cox asked: Credit rating systems are used by lenders to help predict the likelihood of a customer repaying a debt. They exist solely to maximise company profits, by helping to eliminate customers deemed as a poor investment.Being classified as a ‘poor investment’ doesn’t necessarily mean that you are viewed as unreliable. For example, credit [...]
Shirley Peel asked: So many things we do every day are dependent on a good credit rating. Try getting a credit card, renting an apartment, financing a large purchase, or buying a car, just to name a few, without good credit, and reality will set in.If you don’t make payments to creditors on time or [...]
Samual java asked: From bartering in ancient times, to metal coinage, to paper currency, the latest stage and development in the evolution of currency is credit and credit ratings. With increasing ease and usage of the internet, and e-commerce, electronic transfers and so-called “plastic currency” is fast replacing cash.The way credit works is that it [...]