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There are three different types of credit that all contribute to your credit score and determine whether you have good or bad credit. I know that credit cards such as visa, MasterCard, and American Express make up the first type of credit and then car loans, business loans and other loans make up the second type of credit. I'm not sure what the third type is. You gain credit by having a credit card and using it and/or taking out loans. Good or bad credit is determined by the payments on your credit cards and/or loans. Making the minimum payment at least, on time will lead to good credit. Not paying will lead to bad.
What else can I help you with?
What does a credit department do in a bank?
credit department handles the credit granting, credit collection and credit limits of their applicants
What is the adverb for credit?
Credit and Debit cards, Credit.
Is no credit worse than bad credit?
Not having a credit history is better than having a bad credit history. Bad credit is very bad... No credit is good. you are now ready to apply for credit. Start small, like a department store credit card. You must establish credit and use it in order to get a credit rating.
What is the difference between credit card and revolving credit?
A credit card is a type of revolving credit, whereas a revolving credit account may or may not be a credit card. Revolving credit can also include other types of accounts, such as a revolving line of credit with a bank or a home equity line of credit.
What is a Credit Grantor on your credit report?
A credit grantor is the bank or lending institution that has loaned you money or given you a line of credit such as a credit card.
What does a credit department do in a bank?
credit department handles the credit granting, credit collection and credit limits of their applicants
What is the classification of credit according to type of credit?
1] Consumer Credit 2] Mercantile or Commercial Credit 3] Bank Credit 4] Investment Credit
Is credit an adjective?
No. Credit is a noun, or a verb (to credit, or recognize). It is widely used as a noun adjunct with related nouns: credit check, credit score, credit card (compound noun), and credit history.
What is the adverb for credit?
Credit and Debit cards, Credit.
The Three categories of consumer credit are service credit cash credit and what else?
sales credit
Do you debit or credit proceeds of sales of fixed asset in trial balance?
credit credit credit
When was Credit Where Credit's Due created?
Credit Where Credit's Due was created on 2004-09-28.
Is no credit worse than bad credit?
Not having a credit history is better than having a bad credit history. Bad credit is very bad... No credit is good. you are now ready to apply for credit. Start small, like a department store credit card. You must establish credit and use it in order to get a credit rating.
What is the difference between credit card and revolving credit?
A credit card is a type of revolving credit, whereas a revolving credit account may or may not be a credit card. Revolving credit can also include other types of accounts, such as a revolving line of credit with a bank or a home equity line of credit.
What is a Credit Grantor on your credit report?
A credit grantor is the bank or lending institution that has loaned you money or given you a line of credit such as a credit card.
Can I get credit from Home Depot?
Yes home depot does have a credit card for its company but it does depend on your credit score and your credit history on if you can get the credit card
Why would checking your credit score effect your credit score?
{| |- | Requesting a credit report will NOT affect your credit. You have the right to look at your credit report without it affecting your credit or score. When you request your credit report it's called a "consumer pull" and has no affect on your credit. The only time when requesting a credit report can affect your credit is when you ask a possible creditor to inquire about your credit. This is because it implies that you're possibly opening a new line of credit. |}
