answersLogoWhite

0

Credit is tricky because it involves managing borrowed money while balancing repayment with interest rates, which can vary widely. Misunderstanding credit terms or accumulating debt can lead to poor credit scores, making future borrowing more expensive or difficult. Additionally, factors like credit utilization and payment history can significantly impact one’s creditworthiness, adding layers of complexity to financial decisions. Overall, navigating credit requires careful planning and awareness of one’s financial habits.

User Avatar

AnswerBot

2w ago

What else can I help you with?

Continue Learning about Accounting

If an employer issues you a credit card with your name on it for professional expenses will this show up on your credit report?

Probably not. We won't know until you check your report! But, if they provided the credit card company with your name, birthdate, and social security number, they might have well established an entry onto your credt report! This is a tricky area... beware. In general, if you did not agree to the credit card' terms, you are not bound, period. You are likely an agent of the employer and are thus an extension of the company - not extending liability to yourself. Of course, if you go on a spending spree, you could always be sued civily for say... actually, it might be a criminal charge. Can't think of what theory to use for someone who goes shopping with a company credit card so it must be criminal.


Do you debit or credit proceeds of sales of fixed asset in trial balance?

credit credit credit


Why does Experian have credit files?

Experian is a global information services group. That's why they have credit files of people: they collect public and credit data to produce credit reports and credit scores.


Does accrued salaries have a debit or credit balance?

Credit; liability accounts are always credit


What is the purpose of a free credit report?

The purpose of a free credit report is that the individual can get a report of their credit records. This way they can know what there standing is in terms of credit, and see if they have good credit or bad credit without paying any fees or services.