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It can work both ways as you can say it helps small businesses grow and create more jobs helping the economy grow. But in the other hand it can cause the4 average working family to fall deeper and deeper into debt. It can be good if you can manage the repayments OK. But if not it can leave some people wanting to just give up. So I'd say it has its pro's and con's
What else can I help you with?
How did the expansion of railroads benefit the economy?
I believe that it stimulated the economy by creating jobs and making easy access around the U.S.
What were the long term causes of the Great Depression?
1. Easy Credit 2. Lack of Financial Regulations 3. Dependence on U.S Economy 4. Dependence on export market 5. Decrease in demand for Canadian exports 6. Isolationist economies
What was the major result of consumer overconfidence in the economy in 1920?
many Americans purchased goods on credit
What is the economy like in New Jersey?
The economy in New Jersey was very good
What caused the economic growth of the US's economy after World War 2?
The invention of credit cards
What helped the weakness in the economy in the 1920s?
Easy credit helped hide the weakness in the economy in the 1920's.
What helped hide the weakness in the economy in the 1920?
Easy credit helped hide the weakness in the economy in the 1920's.
What helped hide weakness in the economy in the 1920s?
Easy credit helped hide the weakness in the economy in the 1920's.
What helped hide the weakness in the economy in the 1920's?
Easy credit helped hide the weakness in the economy in the 1920's.
Why did the economy appear strong during the 1920's when really wasn't?
Easy Credit
Why are unsecured credit cards easy to get?
Unsecured credit cards are easy to get because they have no restriction and anyone can get them. You do not need a good credit history or an account to get one.
How did easy credit contribute to the boom times in the 1920's?
With easily available credit, people were able by many things that were beyond their means. With so much money being spent on credit, the economy boomed.
Can you get an easy bank loan for a new car?
Getting an easy bank loan for a new car will depend on your credit rating. If your credit rating is Good or above, you would easily qualify for a loan. If your credit rating is not very good, then you are unlikely to qualify for a loan.
How did easy credit affect the postwar economy?
Easy credit in the postwar economy facilitated consumer spending and fueled economic growth, leading to increased demand for goods and services. This accessibility to credit allowed households to purchase homes, cars, and appliances, contributing to the expansion of the middle class. However, it also led to rising levels of consumer debt and, in some cases, financial instability as individuals overstretched their finances. Overall, easy credit played a crucial role in shaping the prosperous economic landscape of the postwar era.
How is the economy affecting the availability of home mortgages?
Due to the market crash in the late 2008's, banks closed up the gap for easy mortgage availability. You must have a good credit score and be approved by the bank to receive the loan.
Is it easy to obtain an American Express Small business credit card?
"Relatively so, yes. The card does require a history of good credit, as do most credit cards. However, it is easy to sign up for, and often ideal for small businesses."
Do you need to have a good credit rating to get instant loans?
In today's economy, you need good credit for just about any loan and an instant loan is no exception. Also, the higher your credit rating, the lower your interest rate, which is an important factor in considering a loan.
