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Credit measures ability to buy, while debt means money owed.

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Q: What best describes the difference between credit and debt?
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Which of these statements best describes the difference between credit and debt?

d.)Credit measures ability to buy, while debt means money owed.


Do loans on used cars offer the best rate compared to loans on new cars?

The difference between rates for used and new car loans can be large. One must consider the value of the vehicle and personal credit score as to which value would be best.


What is the best credit report someone can have?

Depending on which credit report company one is with, depends on the highest credit report, as they have different categories. Experian's ratings are Very Poor, Poor, Fair, Good and Excellent, so Excellent being the best credit score. Equifax reports scores between 300-900, 900 being the best credit score. There are plenty of other provider's for gaining a credit report.


How does one get the best credit card rate?

To get the best credit card rate one should visit a website which offers a comparison between rates. Money Supermarket is a very good one as is Compare The Market.


If the bank has increased you line of credit and you don't want it that high is it best to lower it or keep the higher line of credit what are the Pros and cons?

If you think you can control youself (be honest to yourself about this) then its best to leave it where the bank put it. It will raise your credit score if you have a bigger gap between available credit and credit being used...the ideal amount is about 30 percent. Again, if you think you can control youself, its best to leave it, if not then you can have them lower it.

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